Short squeeze on Bitcoin | And Phunware is filling up with $ BTC

Important short press au Bitcoin, of which he reported in a few minutes the cryptocurrency first for market capitalization above me 59 000 $, after a morning that had seemed entirely reserved for bearish bears.

Classical bear trap? Probably yes, although the increase in purchases of $ BTC by a company listed on NASDAQ helped to act as a flywheel. A sign that the bears have not regained control and that there could be very interesting developments for the next hours and days of trading.

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Short squeeze: bears pay a heavy price

Shortare Bitcoin when the market has relatively low volumes, it is never a good idea. Despite being a Pigmentation also known to the less experienced among the trader, the bears continued to grow, reporting BTC even under the 57 000 $, with the minimum point of 56 760 $ who then triggered it short press.

The graph we report here is merciless: shorts have paid a pretty high price for hours 13h00, giving us a ten% positions that were open. With a warning to mariners: the level of court however, it is higher than yesterday, a situation that opens up the possibility of other flush, one way or another.

The battle of the week will cost around $ 60

For this week, the fundamental price level, for all analysts, will remain that of 60 000 $. Below they could Carry on the lateral movements, which generally reward the more experienced traders while punishing the latest to enter the market.

Exceeded the threshold of 60 000 $ there would no longer be any kind of doute on the pursuit of bull run. Although the bullish push erupted around the 59 000 $, market data doesn't seem to rule out the possibility that this could happen even within hours. The market situation remains very volatile - with scenarios open one way or the other. What is certain is that in the face of such a high price paid by the bears, it is difficult to imagine that they will soon regain market domination and manage to regain the bottom of the channel.

Phunware buys more Bitcoins

There is only MicroStrategy buys Bitcoin. Far from it, there are several companies listed on the NASDAQ et al NYSE who have bought or continue to buy $ BTC as currency reserve.

Phunware, company listed on NASDAQ, announced to have bought in the last few weeks 398 Bitcoins, for an average price of 59 917 $. Overall, the company now has money on hand 529 Bitcoins, at the price of 60 000 $ average, including commissions.

Of course we are far from Full Name which have been registered by MicroStrategy, but these are always new things that will help recreate a Positive feeling for Bitcoin and throughout the compartment. All of this in a moment of fluctuating sentiment, following its recent correction to all-time highs % BTC to almost lose the 20%.

Volatility still expected

In the markets - and this is the unequivocal signal coming fromATR, there will always be some volatility, also due to some weakness in traditional markets. A volatility which, however, can be ideal for those who want to short term trade. With Capital.com - go here to get demo account with unlimited virtual capital - we can also exploit MetaTrader 4 Et TradingView - the platforms most used by professionals both for analysis and for operations.

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