Elon Musk Tweet about Tesla and the price soars! ANALYSIS

INCREDIBILE SHORT SQUEEZE SU BITCOIN! Bitcoin restarts – once again with the hand of Elon Musk – with many short positions which are liquidated and with the token returning close to quota 40.000$.

An incredible race – that very few expected in a weekend that is now traditionally bearish for the whole cryptocurrency sector. Instead, an answer of Elon Musk via Twitter, which clarified the position of Tesla its BTC, to restart the carousel.

Bears cry today – Bitcoin is back in bull run

We are not yet outside the metaphoric swamp, because others will be expected for the next few hours test for Bitcoin, but such a reaction remains sign of a huge inherent strength for the first cryptocurrency for market cap really important.

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Tesla will not sell its Bitcoins and will reopen …

To the shopping through Bitcoin for their cars, once the consumption of renewable energies for at least 50% of the mining. A clear stance, which brings peace to the markets.

This is inaccurate. Tesla sold around 10% of its Bitcoins to show that a position can be liquidated without impacting the market. When there is confirmation of a reasonable use of renewable energy by miners (about 50%), Tesla will reactivate Bitcoin transactions.

This is the answer of the Tesla CEO to an article that reported the opinion of a South African entrepreneur, who accused Musk himself of manipulating the Bitcoin market to his advantage. An article and an interview, always inexact according to Musk.

That was enough for Bitcoin to overcome the impasse and resume the race. A situation that we had foreseen today in our daily Bitcoin insight – not expecting, however, that the fuse could light up already today.

An intervention that many believe due – to refresh a sentiment positive on the market that Musk himself had helped to make bearish, first with the interruption of payments, then proving himself ready several times, at least on Twitter, to give up his positions on Bitcoin.

Non solo Musk: never short a dull market

That is in English … never short a sluggish market. This is one of the most common maxims among professional traders, which they always remember as the risk of short squeeze the higher the order book is.

And this is precisely the perfect storm that has arisen on the markets today: very few short positions and just as few long positions. A dull market from the textbook, which left a good game for those who entered on Bitcoin with important buying positions.

There was a major, coordinated purchase – evidence of which is available

As you wandered around the $ 36,000 in price, an order for 10 million dollars, then one for 7 million and several for 5, 4 2 million. The simultaneity of the orders suggests a large purchase by a single subject – or by subjects coordinated.

May it be Microstrategy di Michael Saylor, which recently confirmed the future purchase of 500 million dollars in Bitcoin? Hard to say, because everyone actually expects purchases to start from tomorrow, when the subscription of the related bonds will begin.

How long can the bear market last?

The positive sentiment in the markets right now is very high and everything would suggest a feeling bullish very strong with i bear, or bearish bears forced to retreat.

However, we are not yet out of the ford. It is true that Bitcoin, as is clear from the infographic that we attach, has actually overcome a very important resistance, but it is equally true that the moment remains relatively complicated and worthy of more studies and attention – with the next trading days that will be fundamental, at least to fix a clear short-term trend.

Short Squeeze bitcoin - 13 Giugno 2021

Short Squeeze bitcoin - 13 Giugno 2021

Bitcoin overcomes crucial resistances – the short squeeze chart

For now we can only welcome the enthusiasm that is back on the market, justified not only by the tweet of Elon Musk, but from many other excellent news that have arrived in recent days. Fromadoption of Bitcoin as legal currency in El Salvador, to the new signings announced by Saylor. Passing through an incredible resistance to bears who tried to get it below $ 30,000.

The Bitcoin forecasts that point to a significant rise by the end of the year are back on track. Even if, as anyone who follows us knows, they had never been questioned by our editorial staff.

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