Bitcoin Short Sellers Beware: Analyst Sees No Sign Rally 'Overheated'
Portfolio Pulse from Murtuza Merchant
A cryptocurrency analyst, CrediBULL Crypto, advises against shorting Bitcoin and altcoins during the current rally, stating that the market is not 'overheated' based on hard data. The analyst highlights a recent short squeeze and healthy funding rates as indicators that the rally could continue. He predicts Bitcoin will break through major resistance levels, particularly the $40,000 mark, more quickly than expected.
December 06, 2023 | 4:07 pm
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CrediBULL Crypto's analysis suggests a bullish outlook for Bitcoin, indicating that the current rally is not 'overheated' and has room to grow, potentially breaking through the $40,000 resistance level.
The analyst's comments are directly related to Bitcoin's price movement. The mention of a recent short squeeze and healthy funding rates, along with the prediction of breaking resistance levels, could lead to increased investor confidence and a potential rise in Bitcoin's price in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100