Bitcoin (Btc) rebound above $ 81,000 on March 11 as US stocks seek relief from a brutal seller.
BTC/USD 1-Hour chart. Source: Cointelegraph/TradingView
BTC’s price returns in the middle of calls for short squeeze
Data from Cointelegraph Markets Pro and Tradingview Demonstrates sunny BTC prices approaching 4%.
New four -month lows Wall Street trading session was accompanied by the previous day as the shrinkage fears sent investors to flee.
The S&P 500 and Nasdaq Composite Index completed the day down 2.7% and 4%, respectively. At the time of writing, the Nasdaq 100 futures recovered around 0.4% from a trip to their lowest level since September 2024.
Commenting, a trading source is the Kobeissi letter that the markets enter into an unstable downtrend.
“Are we ruined for a massive short squeeze?” it is queried in a Thread to x.
“Even the bear calling for a long bear market needs to see some relief rallies. The markets do not move in a straight line long. Eventually, a (tradable) short squeeze will be inevitable.”
NASDAQ 100 Futures 1-Day chart. Source: Cointelegraph/TradingView
Kobeissi and others refer to the unusual high reading from the VIX Volatility Index while doing the case for a prolonged recovery.
“$ VIX is just 11% of the time, back in 1990,” network economist Timothy Peterson, creator a lot Bitcoin’s price forecasting tools, continued.
“Put another way, there’s an 89% chance now is the bottom.”
Vix Volatility Index. Source: Timothy Peterson/X.
Bitcoin analysis sees “very rough time” in advance
Bitcoin has therefore seen some required upside down in short timeframes after reaching $ 76,600 to Bitstamp.
Related: Biggest red weekly candle ever: 5 things to know in bitcoin this week
“$ BTC has only had a bullish difference -It in 4h timeframe,” Cas Abbe’s famous businessman Reaction while examining the signals of the Kamag -child index (RSI) signal.
“I’m not saying it’s upside down but a short -term pump looks close now.”
BTC/USD 4 hour chart with RSI data. Source: Case abbe/x
In the past, businessman and analyst Rect Capital told followers of X that Watch the same RSI hints From the sun -day chart to confirm a more sustainable BTC price return.
When it came out, the other popular participants in the crypto market remained dark. Among them are the pseudonymous x businessman htl-NL, which ended BTC/USD is unlikely to match all times high.
BTC/USDT 1-Day Chart. Source: HTL-NL/x
“Before anyone thinks you are specifically happening in crypto: no,” another of his latest posts Nakasa said next to a chart of S&P 500 futures.
“This happens with all the risk ownership. It’s called a retreat perhaps. The US is at a very difficult time.”
S&P 500 Futures 1-day chart. Source: HTL-NL/x
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
