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RE: Bitcoin Technical Analysis: BEARS FULLY IN CONTROL
Based on what I have been reading/hearing, the price will continue to fall until the Smart Money has a safer way of accumulating Bitcoin and recent negative sentiment surrounding price manipulation.
I agree. For a sustainable bull run, we’ll likely need major news like ETF approval or something comparable. That said, if shorts start to out pace longs by 50% or more, I think we’ll likely see a massive short squeeze that many retail investors will interpret as the bottom. That could spark a short term bull run, but I don’t think it’d be sustainable.