Crypto trader predicts Bitcoin could surge towards $30,000, fueled by a short squeeze, but expects a deep corrective move before reaching the target.
A closely followed cryptocurrency trader thinks that Bitcoin (BTC) will likely witness an eruption toward the $30,000 price level.
Pseudonymous analyst Loma tells his 195,000 Twitter followers that a strong short squeeze could fuel BTC’s rally toward his target.
A short squeeze happens when traders who borrow an investment at a certain price in hopes of selling it for lower to pocket the difference are forced to buy back the assets they borrowed as momentum moves against them, triggering further rallies.
“ Price at support.
Both sides attempting to position themselves here for the following big move.
Expects a squeeze ( numerous liquidity up to monthly open).”