A prominent crypto trader with a massive following has predicted a Bitcoin (BTC) short squeeze on the horizon. Inmortal, a pseudonymous crypto analyst, shared their insights with over 215,000 followers on the social media platform X, suggesting that BTC is poised for a significant upward movement that will catch short sellers off guard.
According to Inmortal, the charts indicate that a short squeeze is imminent, signaling a potential surge in the price of BTC. A short squeeze occurs when a rapid increase in an asset’s price forces traders who had taken short positions to cover their positions, resulting in further price appreciation. Inmortal’s analysis highlights consecutive higher lows in BTC’s price action, indicating a bullish trend ahead.
The analyst’s detailed price analysis underscores the smooth sailing ahead for BTC, with a focus on deviation and squeeze patterns in low timeframes. In a departure from their usual chart-focused analysis, Inmortal also shared their honest thoughts on BTC without any visual aids. They emphasized that if the bottom is not already in, it is very close, hinting at a potential turning point in BTC’s price trajectory.
As of the time of writing, BTC is valued at $58,512, reflecting a more than 7% increase in the past week. Inmortal’s insights have captured the attention of the crypto community, with many traders eagerly anticipating the potential short squeeze and subsequent price movement in BTC.
For the latest updates and alerts on cryptocurrency price action, readers can subscribe to receive email notifications directly to their inbox. Additionally, they can follow The Daily Hodl on social media platforms such as X, Facebook, and Telegram to stay informed about the latest developments in the crypto market.
In conclusion, Inmortal’s analysis points towards a bullish outlook for BTC, with a short squeeze potentially on the horizon. Traders and investors are advised to stay informed and monitor the market closely to capitalize on potential opportunities in the evolving crypto landscape.
Please note that the images used in this article are for illustration purposes only and do not represent actual market data.
