Top Crypto Analyst Predicts Imminent Short Squeeze for Bitcoin (BTC) – Here’s His Target

A carefully adopted crypto strategist believes that Bitcoin (BTC) seems poised for a fast burst to the upside.

Pseudonymous analyst Kaleo tells his 553,400 Twitter followers that king crypto Bitcoin might be gearing up for a brief squeeze.

“Lastly, seems like BTC is able to escape of the $16,000 – $17,000 base vary it’s been caught previously a number of weeks. Provoke the squeeze.”

Supply: Kaleo/Twitter

A brief squeeze occurs when merchants who borrow an asset at a sure worth in hopes of promoting decrease to pocket the distinction (brief) are pressured to purchase again because the commerce strikes towards them.

Taking a look at Kaleo’s chart, it seems that he thinks Bitcoin might surge to as excessive as $18,800. At time of writing, Bitcoin is altering arms for $16,930, suggesting a virtually 10% upside for the king crypto ought to it hit the analyst’s goal.

As for Ethereum (ETH), the crypto strategist additionally thinks that the highest good contract platform is prepared for a rally.

“Ethereum/ETH lastly seems primed for the following leg up within the ~$1,400 vary.

Ought to see a little bit of a pullback and consolidation in there earlier than continuation increased.” 

Supply: Kaleo/Twitter

At time of writing, Ethereum is valued at $1,261.

The crypto strategist can also be conserving an in depth watch on the S&P 500 (SPX). In response to Kaleo, SPX seems primed to take out its resistance at 3,900 factors.

“As soon as once more, when SPX breaks 3,900 [points], buckle your seatbelts.”

Supply: Kaleo/Twitter

Merchants control the SPX because the crypto markets are inclined to mirror the actions of the inventory market index.

At time of writing, SPX is buying and selling at $3,895.

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