Here's Exactly Why Bitcoin Is Rising in Last Few Days

Oct 29,2022
Here's Exactly Why Bitcoin Is Rising in Last Few Days

The recent increase of Bitcoin can be said to be unexpected, because the first cryptocurrency does not show all signs of imminent price inflation. However, it is safe to say that dolphins are going to improve the moment of momentum based on short-term squeezing.

According to short settlement, large and medium-sized investors are willing to push up the price of the first cryptocurrency, resulting in at least two short squeeze, reaching 20000 dollars.

Apart from the individual behavior of investors in the market, the above short squeeze is the largest one in the whole year. Considering the main price performance of Bitcoin in 2022, investors should have thought that there would be a massive short squeeze in the first strong price rise period after a long sideways consolidation.

As indicated by the financing interest rate, the traders have taken the initiative to short the first cryptocurrency, reducing it to $19000, because it has been the limit of the joint venture sector for more than three months. The large amount of short sales from retail is an important factor that causes BTC to be squeezed by short sales in the total demand we see now.

What will happen next?

Unfortunately, both sides have already chosen to give up the full support they provided to BTC two days ago. Before the weekend trading day, Dolphin institutions and investors will leave the sales market, leaving both uncertainty and liquidity. This is why sideways consolidation may be the most likely situation in the short term.

Technically, Bitcoin still has the opportunity to continue to rise, considering that short sellers have not put enough pressure on property in the past many months. The data of the moving average system and MACD verify the short-term reversal.