Bitcoin Price Rallies To $7700 In Bearish Sentiment Short Squeeze

This morning, Bitcoin price fell to under $7,100 abruptly before the first-ever cryptocurrency exploded through resistance at $7,300 all the way to $7,700 before it began to finally cool off.

Can bulls push Bitcoin higher and reclaim critical resistance as support once again, resulting in a rally leading up to Christmas? Or will bears swat down the attempt to break higher here, resulting in a not-so-happy holiday season for crypto investors?

Bitcoin Price Rockets to $7,700 in Sentiment Driven Short Squeeze

When Bitcoin was trading at lows below $4,000, sentiment was at extreme lows, with bearish crypto traders, analysts, and investors alike calling for even deeper lows, as low as $1,000 or more – essentially the complete demise of Bitcoin.

But Bitcoin exploded out of that range, resulting in a parabolic rally or echo bubble, that took the price of the most valuable cryptocurrency by market cap up 350% to a high of $14,000. At that point, crypto investors were once again talking about…