Bitcoin: Where Bears Go to Die 🐻💀

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Ah, the sweet taste of victory for the Bitcoin bulls! 🎉 After a brief dip into the low $108,000 range, the mighty cryptocurrency surged to a new all-time high of $112,022, leaving a trail of destruction in its wake. The data from Coinglass reveals that over $470 million in short liquidations were triggered across the crypto market, a veritable bloodbath for the bears. 🐻💔

And now, the crypto analyst CrediBULL Crypto declares that it’s effectively “illegal” to short Bitcoin. 🚫 Ah, but what does he mean by this bold statement? Is it a literal ban on bearish bets, or merely a warning to those who would dare challenge the mighty Bitcoin bull? 🤔

The Impulse Has Awakened

CrediBULL Crypto takes to the social media platform X to share his wisdom with the masses. He posts a detailed chart and technical analysis, explaining why shorting Bitcoin is now a perilous pursuit. His argument is based on the Elliott Wave count on the 8-hour candlestick timeframe chart, a mystical ritual that only the most skilled analysts can decipher. 🔮

Behold, the chart reveals two possible scenarios! 🤯 The first, a brief rejection above $110,000 followed by a corrective pullback toward the $102,000 zone, a key daily demand level. The outcome would be a sideways consolidation before the next major upward impulse. But wait, there’s more! 🎉 The second scenario bypasses the corrective phase entirely, and Bitcoin may have already begun its next major leg up. The analyst phrases it thus: “there is a non-zero chance that the next impulse up has already begun.” 🚀

In either scenario, CrediBULL’s commentary stresses that the downside from current levels is limited, and shorting Bitcoin now is equivalent to fighting strong upward momentum. 💪 Ah, but what about the brave bears who would dare challenge the bull? 🐻💔

The Folly of Shorting Bitcoin

It’s now “illegal” to short Bitcoin, not in the literal sense, but because the current structure no longer supports bearish bets. The setup is one of a continuation above $111,000 in the coming days. If Bitcoin clears the $111,000 to $112,000 range with enough conviction, it would confirm a vertical rise into wave 3 of a new Elliott impulse cycle. 🌟

And what of the price target for this Wave 3? 🤔 Ah, it’s a mere $130,000, a trifling sum for the mighty Bitcoin. A correction may follow from that level to form an impulse Wave 4 before Bitcoin enters another strong bullish leg. And then, the most bullish scenario places Bitcoin on a final Wave 5 movement to $150,000. 🚀

At the time of writing, Bitcoin is trading at $111,270. The downside is currently limited, and the focus now should be on identifying long opportunities rather than attempting to short what may be the early stages of another explosive rally. 💥 Ah, but will the brave bears heed this warning, or will they continue to fight the bull? 🐻💔 Only time will tell. 🕰️

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2025-07-11 02:11