Bitcoin’s (BTC) dominance is back to local resistance, nearing 55%, while the altcoins lost strength against the leading cryptocurrency. As this occurs, crypto traders favored opening short positions against cryptocurrencies that could soon skyrocket with a short squeeze.
Notably, the Bitcoin Dominance Index (BTC.D) is 54.64%, currently above the 50-day exponential moving average (EMA). The BTC.D nears a local top at 55.26% as Bitcoin gains strength against altcoins, mostly of which traders have been increasingly shorting.
Bitcoin Dominance Index (BTC.D). Source: TradingView
As a result, some of these cryptocurrencies accumulate relevant liquidation pools upwards, potentially triggering short squeezes next week.
Short squeeze alert for Cardano (ADA)
In particular, Cardano (ADA) has accumulated massive short interest after losing its position in the top 10 cryptocurrencies by capitalization.
On that note, ADA has the potential to skyrocket from the current $0.58 to above
We współpracy z: https://finbold.com/short-squeeze-alert-for-next-week-two-cryptocurrencies-with-skyrocket-potential/
