BTC Squeeze the Unexpected
2024-11-03

Bitcoin has made an epic move over the course of the last few weeks, into a critical resistance level, slightly front running the all time high. 

According to some of the data available, suggestion that retail is actually shorting the Bitcoin price at the moment as they are in disbelief that we will break the all time high, after months of sideways price action. 

Bitcoin has currently pulled back to the anchored vwap of the last low before this rip higher, and this area can be classified as a large potnetial bounce zone, as we have seen it before. 

Moving into next week, we have big election news, as well as rate cut news, setting up for what may be the most volatile week of the year. 

I have a feeling that many people will be looking at this event negatively, and actively trying to short the market. However, I have seen the power of the anchored vwap over and over again, and until the level is broken, lost , and retested, I would rather look at this as a nice potential buy zone to ride this back to the ath. 

Only time will tell...