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BTC short term analysis

Hey tafans John here checking the BTC chart this Monday morning BTC is trying for the third time to push the price even higher, in the last 3 days BTC is having a hard time making a big move, same with the alt coins

what I'm watching in the last few days is the volume of BTC dropping, because without volume the price can pause or not make a big move, whether it's bearish or bullish, without enough volume we can't see a market move

However today we see BTC trying to go even higher, perhaps to the 18000 area, we can expect the price of BTC to go even higher if we ever see large buying volume

In the last few days, the majority of traders were on a short position, so a short squeeze is more likely to get rid of the remaining short positions of traders.

If we see a continuous bullish price move now, I expect the price to break the 17k area and rise to the 18k area. Again, volume is the key, at least the same volume we saw on Nov 22nd.

Disclaimer this isn't financial advice What I do is very risky and nobody should copy me.

Reminder: the trend is your friend.

Don't have a good day have a great day.

Blog Author: John Daele Bandilla