Willy Woo, a network analyst, warned traders to be wary of Bitcoin’s short squeeze that could be squeezed into a rally in the near future.
According to dailyhodl, Willy Woo posted a tweet telling his 1 million Twitter followers that BTC Fundamental Strength Indicator fundamentals are improving. This was an indicator of basic strength. (The Fundamental Strength Indicator, or FSI, tracks the strength of 17 fundamental and related technical indicators.) If the price rises above $25,000, it could be short-lived. we have to be careful.”
However, this is short-term pressure Happens when a large number of traders Shorting the asset decided to cut its losses in response to the unexpected increase in prices.
However, Woo noted that Bitcoin is likely “entering a new period of cyclical accumulation” based on a timeline analysis during the previous cycle. The analyst said that the threat of recession.
“I am not an expert on microeconomics. But microeconomic liquidity appears to be on the rise and BTC will continue to be associated with it. He now expects an upward push if the recession starts. In addition, it is believed that a rupture could occur in the future.”
As of 10:29 pm, the coinmarketcap price of Bitcoin was up 0.77% at $23,212.17 per coin at the time of writing. which is still the highest ranked crypto asset by market capitalization, up 0.55% or ฿15,624,017,414,522 in the last 24 hours. ฿533,273,790,739 It has a current circulating supply of 19,302,300 BTC or 92% of the total.
Essentials arise #Bitcoin.
The Fundamental Strength Indicator is no longer overheated and is starting to increase (FSI tracks the strength of 17 fundamental and technical indicators)
If the price goes much higher than 25k, we could be in a short squeeze. pic.twitter.com/ske2YZueXa— Willy Woo (@woonomic) February 21, 2023
Simple is powerful. This is timing #Bitcoin circles.
It probably means that we are starting the re-accumulation phase of the cycle. These are the domains of the past. pic.twitter.com/CKFQSBni8I— Willy Woo (@woonomic) February 20, 2023
