For two days in a row, we’ve been hearing the same old song. Bitcoin above 84,000, Ether at 2,500, and everyone shouting about a bullish reversal.
Open the hourly chart. The RSI is at 77. That’s a zone where the market is gasping for air. Now look at the volume. There’s practically none. This isn’t a rally. It’s a short squeeze.
Retail traders confuse the two because the candles are green. But they’re not the same thing. A short squeeze is panic among people who were short. Their stop-losses get triggered, forcing them to buy to close their positions, which pushes the price up. It’s an emotional spike. There’s no fundamental support behind it.
A real reversal looks different. It requires an influx of new capital, not just the closing of old positions. Right now, we’re seeing the price pushed up out of nowhere. Once there are no sellers left, the price will simply fall back down. Don’t be the one who buys at the very top of this bubble.
$BTC
Open the hourly chart. The RSI is at 77. That’s a zone where the market is gasping for air. Now look at the volume. There’s practically none. This isn’t a rally. It’s a short squeeze.
Retail traders confuse the two because the candles are green. But they’re not the same thing. A short squeeze is panic among people who were short. Their stop-losses get triggered, forcing them to buy to close their positions, which pushes the price up. It’s an emotional spike. There’s no fundamental support behind it.
A real reversal looks different. It requires an influx of new capital, not just the closing of old positions. Right now, we’re seeing the price pushed up out of nowhere. Once there are no sellers left, the price will simply fall back down. Don’t be the one who buys at the very top of this bubble.
$BTC