This Jump in the Price of Bitcoin Isn't Just From the Short Squeeze

I am seeing a ton of posts saying that "this is just the short squeeze, it will crash or run out of fuel once the shorts are liquidated", but I have a grid trading bot running during this short squeeze and have literally been watch the charts for a good 50% of the time over the past 3 days. I do not play with fire by using leverage, either to short or to long Bitcoin. It's a quick way to make money but it's just as quick a way to lose it. I'd rather take the safer bet and just bet that Bitcoin's price is going to fluctuate a lot, hence why I chose grid trading.

When a liquidation event is happening it's obvious. They tend to happen right when Bitcoin reaches "psychological levels" of price (like multiples of $1,000, $500, $250, etc.), and if you're watching the candles (I watched 1-minute candles for most of this time) you will see a sudden spike in Bitcoin being purchased. The candle will be a lot taller than the ones around it.

The price movement starts going crazy, rising and falling violently by hundreds of dollars at a time, but it eventually reaches an equilibrium at a higher price than before. People say the short squeezes are the only driver behind the price movement. That's the part where people are wrong.

They claim that once the short squeeze is over the price will plummet, but short fuel ran out the first day, the second day, and is mostly gone right now. But the price kept rising after the majority of the liquidations occurred both of the past two days. In fact yesterday was wild to watch, because the initial jump to $79,500 was followed by a huge fall to around $66,500 at the lowest if I remember correctly.

But the price withstood that brutal drop and started slowly making its way back up. It told me that there is actual interest in buying at these prices, and not just a little bit of interest.

I was shocked a couple of hours later to see *MORE* evidence of short liquidation as the price came back to levels that just had liquidations occur. It made me wonder how stupid these big shorting whales are to be placing highly leveraged short positions on Bitcoin after so much blood for them the past day and up until that point as well.

These are the indicators I've been watching as they are most relevant to grid trading.

https://preview.redd.it/waqevzxf7tkh1.png?1904&format=png&auto=webp&s=87873498d6a76789daf4e390c32c55699efc7741

Now I'm not a millionaire like these whales, and clearly they're doing something right to have those millions. But I can't wrap my mind around the idea that they're placing shorts in areas that were just liquidated without even waiting a little to see if it's safe, and then LEAVING THEM UNATTENDED. That's the wild part. If I have $250 million riding on a 40x leveraged short position during a short squeeze, I'm watching it all day.

But yeah, people are saying all this stuff and I guarantee they haven't watched the price movement as long as I've been watching it so far. I know the price has a strong potential of diving down once the price starts dropping even a little bit because of the leveraged longs that people are getting too overconfident with. In fact yesterday I even saw a long squeeze as the price was falling below $67,000. But the price still continued grinding upwards slowly. That's organic demand.

EDIT: Some numbnuts are posting worthless posts like "hurr hurr, you don't know where the price is going either". Clearly some people don't know how to read. Probably didn't even read the post anyways.

But here's my prediction for the price: It may go up, it may go down, it may go up and then go down or go down and then go up, or it may just stay static for a while. And then it might stay static or it might go up or go down and then maybe it will hold for a couple days and then go up, down, and up again, and then up some more, and then up even more, before it all crashes down again, but then after that it might go up or it might crash even more. It could even possibly keep going up until it hits $10 trillion/BTC. I can't say for certain but I'm pretty sure it's going to $10 trillion by the end of the year. But after that there's the distinct possibility that it might go down again because of the 4-year cycle. Or it might go up past $10 trillion to $100 trillion. Maybe.