Bitcoin Slides to $75,500: The Short Squeeze Setup Needs $5,000 More

1 month ago 18

Rommie Analytics

Key Takeaways
  • BTC price on April 30: $75,600.
  • RSI(14): 41.00 faster signal, 40.48 slower signal, converging.
  • Distance to institutional support zone: $5,600 to $70,000 top, $10,600 to $65,000.
  • Short squeeze trigger 1: STH-SOPR below 1.0, retail selling at a loss, not yet confirmed.
  • Short squeeze trigger 2: SSR stablecoin influx to exchanges, not yet elevated.
  • Short squeeze trigger 3: funding rate at -0.015% to -0.020%, currently near zero.
  • Current funding rate: approximately 0%, historical extreme was -0.25% in 2018-2019.
  • MA stack: descending, 50 at $76,408, 100 at $77,104, 200 at $77,479.

The Three Conditions And Why None Are Active

According to a CryptoQuant report

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