Bitcoin Market Analysis
⚪️TECHNICAL (4H)
A bit of short term bullish momentum is starting to build up for BTC around $55,000, level towards we can see a slow but consistent grind in price action. Considering that we're about to enter our weekend trading session, we're being cautions with a possible spike in volume and chop.
⚪️SENTIMENT
Sentiment has leveled off once again in the short term, however in higher time frames we can still see a very negative outlook on the overall market.
This combined with the fact that short positions have increased dramatically, points towards a very likely short squeeze in the next weeks.