A closely followed crypto trader believes that Bitcoin (BTC) will likely witness an eruption toward the $30,000 price level.
Pseudonymous analyst Loma tells his 195,000 Twitter followers that a strong short squeeze could fuel Bitcoin’s rally toward his target.
A short squeeze happens when traders who borrow an asset at a certain price in hopes of selling it for lower to pocket the difference are forced to buy back the assets they borrowed as momentum moves against them, triggering further rallies.
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Says Loma,
“Price at support.
No momentum.
Both sides trying to position themselves here for the next big move.
Expects a squeeze (lots of liquidity up to monthly open).”
Source: Loma/Twitter
Although Loma is predicting a big rally for BTC, he says that the
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