- Bitcoin continues to see strong buys following the news that shook out the market just one week ago. The short count continues rise and the bears are now drowning a slow, steady climb to new highs. Once these shorts close, we will very likely see a cascade of buy orders hit the market, known as a “short squeeze.”
- Now that we’ve climbed out of the “no-mans-land” described over the last few weeks, we are encountering a potential area where supply might start to hit the market. So far, however, we haven’t seen much supply. All we’ve seen is a slow, steady grind that is absorbing every bit of selling pressure.