full image - Repost: 200-SMA short squeeze (from Reddit.com, 200-SMA short squeeze)
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Title says it all. Many traders and professionals saw the price heading up to the 200-SMA around $19450 and initiated short positions. I think ultimately they will win, and if they do and the price settles back to the $18,000’s that will mean a very nasty topping tail will form in the charts and the price will go lower. However, if BTC had its own Reddit army like GME and AMC had a couple years ago, they could crush these short positions sending the price soaring into a new bull market.
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