Bitcoin Dump and Pump Phase - Euphoria for Bears

Awgal posted an interesting chart on tradingview that explains the whale cycle well based on the btc/usd pair. However similar patterns can be observed with other pairs as well.

The image is pretty much self-explanatory

Signs of a great short squeeze:

  • Slow accumulation of short positions
  • Quick shorts volume spike
  • Sudden price drop
  • High Volume ask wall
  • Ask wall disappears
  • Bid wall appears
  • Accumulated shorts start slowly to bleed out

At the moment the best bet is to accumulate slightly under the support line. We have had a triple bottom which is a good sign.