🧐 How do analysts view the short-term price potential of BTCUSD?

Analysts have a bullish outlook for Bitcoin's short-term price potential. Here's a detailed analysis:

1. **Potential Short Squeeze**: Bitcoin traders are anticipating a significant short squeeze, with predictions suggesting BTC could reach $120,000 in the near future. This is driven by recent price movements and the potential for a massive liquidation of short positions.
2. **CME Gap Influence**: The CME gap at $116,500 is being closely monitored as a possible local low, and traders are watching this level for potential price reversals. This suggests that analysts are aware of the technical aspects that could influence short-term price movements.
3. **Market Sentiment**: Optimism is high among traders as BTC approaches new highs, which could propel the price further upward. This sentiment is supported by the expectation of a rise within the current short-term trend, with a forecasted increase of 16.83% over the next 3 months.
4. **Technical Analysis**: The recent price action and technical indicators suggest a potential continuation of the upward trend. Bitcoin has broken above key resistance levels, and the momentum is favoring buyers. However, there are also bearish confluences and potential retracement levels to watch, such as the 61.8% Fibonacci retracement zone near $114,978.

In conclusion, analysts view the short-term price potential of BTCUSD as positive, with the potential for further gains based on the current market sentiment and technical indicators. However, caution is advised due to the volatility of the market and the influence of technical levels such as the CME gap.