Bitcoin News
By Maheen Hernandez
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Bitcoin’s Bullish Momentum Is Building. Bitcoin’s latest move has flipped market sentiment. Trading volume over the last 24 hours hit $60.
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Why Shorting Bitcoin Now Is a Risky Move. The phrase “it’s illegal to short Bitcoin” isn’t about actual laws — it’s about how dangerous it…
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What This Means for Traders. At the time of writing, Bitcoin is trading around $111,270.
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Key Takeaways
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Final Thoughts. Bitcoin’s recent price action has flipped the script on bearish traders.
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Bitcoin has been showing impressive strength in recent days, pushing back from late June’s dip and setting new records.
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And now, according to crypto analyst CrediBULL Crypto, the market conditions have shifted so dramatically that shorting Bitcoin has become — in his words — “illegal.”
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Of course, it’s not legally banned to short Bitcoin. What he means is that the risk-to-reward ratio is now heavily tilted in favor of bullish positions.
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Bitcoin’s latest move has flipped market sentiment. Trading volume over the last 24 hours hit $60.15 billion, showing renewed investor enthusiasm.
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The analyst’s perspective is based on Elliott Wave Theory, which maps out market cycles based on investor psychology.
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Scenario One: A brief rejection above $110,000, followed by a pullback toward the $102,000 zone, where Bitcoin finds support before moving higher.
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Scenario Two: The correction phase is skipped entirely, and Bitcoin continues its vertical climb in Wave 3, a powerful upward movement within the Elliott wave cycle.
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According to CrediBULL Crypto, we are now leaning toward the second scenario. That means Bitcoin’s next major impulse may have already started.
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After reaching the $130K level, analysts expect a possible short-term correction (Wave 4), followed by a final bullish leg (Wave 5) that could take Bitcoin up to $150,000.
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At the time of writing, Bitcoin is trading around $111,270. The current structure suggests that downside risk is limited, and that the next key support levels are far below the…
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