Bitcoin News
By Julie Binoche
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A well-known crypto analyst, CrediBull Crypto, has sparked attention by saying that it’s now practically “illegal” to short Bitcoin.
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CrediBull initially predicted that Bitcoin might get rejected above the $110,000 mark and fall back toward $102,000 before starting a new upward move.
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But there's an even more optimistic scenario. According to CrediBull, it's possible that Bitcoin has already begun its next major impulse wave.
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In either scenario, the analyst believes the downside for Bitcoin is limited. He emphasizes that the current trend strongly favors the bulls, and trying to short Bitcoin under…
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Backing up the bullish case is on-chain data that shows more long-term holders are accumulating Bitcoin.
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The analyst’s view that it's "illegal" to short Bitcoin is a strong way of saying that the reward for shorting is too low compared to the risk.
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For Bitcoin to confirm the bullish breakout, it must first clear resistance at $111,941. If it does, the next targets would be $120,000, then $128,000, and possibly $149,000.
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In summary, market signals and price patterns suggest it is no longer a good idea to short Bitcoin.
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