Crypto Trader Says Bitcoin Short Squeeze Imminent, Shares ‘Honest’ Opinion on BTC Progress

A crypto trader with hundreds of thousands of followers says a Bitcoin (BTC) short squeeze is inbound.

Pseudonymous crypto analyst Inmortal tells their 215,000 followers on the social media platform X that BTC is on its way up, squeezing short sellers dry.

“Chart looks like a short squeeze is imminent.”

Source: Inmortal/X

A short squeeze occurs when a sharp rise in the price of an asset forces traders who had previously sold short to close their positions. Short selling means selling borrowed shares of a stock with the expectation that the price will fall.

According to Inmortal’s price analysis (PA), consecutive higher lows mean smooth sailing ahead for BTC.

“Beautiful PA in low timeframes.

> Consecutive higher lows

> Deviation + Squeeze”

Source: Inmortal/X

Changing up their approach, the analyst provides their “honest thoughts” on BTC, sans chart.

“My honest thoughts on BTC, no chart.

> If bottom is not in, it is really close.

(It’s not about at what price, it’s about WHEN, it’s all about timing).

> 3 phases. So far you experienced 2.

(first leg up and summer break) second leg up is next, third phase.

That’s all.”

BTC is worth $58,512 at time of writing. The flagship crypto is up by over 7% in the last seven days.

Generated Image: Midjourney
Featured Image: Shutterstock/Konstantin Faraktinov

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