BTCUSD Shorts are about to enter overbought territory in RSI and %B, as mentioned above. The arrows show us that when it happens in tandem a strong short squeeze usually results. This short squeeze could be just a few days away, especially since price did not print oversold RSI on the daily chart nor bullish divergence. One more move down may be in the works this week that would result in one of those two things happening in conjunction with a short squeeze.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.