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BTC update: Yesterday's daily candle has been pretty violent with the price breaking above our local supply, reaching a high of 65K (0.236 Fib level perfectly touched) and closing above the SH located at 62.738$, thus creating a daily CHoCH. This move to the upside has, as always, created a little bit of excitement with people already targeting the previous ATH, but if we dive a little bit more we can notice some interesting things to calm these troubled waters. In the last analysis we pointed out about a potential and likely short squeeze, considering the strong negative funding rate matched with the rise in OI, a sign that shorts were pilling up consistently. The main idea was to tap the 4H demand or close to before this local impulse, but we saw a frontrun (2 analyses ago that was a possibility) so substantially, this move was pretty logical. And now what? During this move, a lot of data changed. OI soared consistently toward our "danger zone" of 180K that, contextualized to the increase in positive funding + BTC tapping into this HTF supply makes me believe that the next part of being squeezed is likely to be long position traders. This impulse out from our local supply could indeed become a deviation above, ending up in a correction, even toward the 4H demand. In any case, this "shorts and longs" game is lasting for a while and I personally believe we're not so distant from seeing an acceleration to the upside. We're about to enter September + the last quarter of the year. Are these the last "Summer games"? I believe so.













