Bull Market Ignited by Short Squeeze! Last Chance to Ride the Relief Rally in Bitcoin, Ethereum, and XRP?

▲ Bitcoin (BTC), Ethereum (ETH), and XRP / ChatGPT-generated image ©

As optimism returns to the virtual asset market and expectations for a short-term rally grow, an expert has presented a rosy outlook suggesting that Bitcoin (BTC) could swiftly surge toward $80,000.

According to investment media outlet CoinPedia on February 26 (local time), veteran trader Gareth Soloway assessed that while the market may not yet be transitioning into a long-term bull cycle, it has entered the early stages of a strong short-term relief rally. After recently falling to around $60,000, Bitcoin formed a clear reversal candle following the sharp drop and is now displaying a classic bullish consolidation pattern, compressing energy within a narrow range. He noted that extremely deteriorated market sentiment could instead serve as excellent fuel for a short squeeze—buying pressure triggered by the liquidation or covering of short positions—placing greater probability on a move toward $80,000 to $85,000 rather than a سقوط to $50,000.

Ethereum (ETH), the leading altcoin, is also emitting strong bullish signals. Having reclaimed the $2,000 level, Ethereum is forming a classic bullish flag pattern on the charts. If this pattern completes, analysts suggest it could surge approximately 27% to 35% in the short term, potentially spiking to the $2,600 to $2,800 range. However, heavy selling pressure is expected in that zone, warranting caution over profit-taking. Should the market deteriorate, the $1,500 level is projected to serve as a major long-term support line.

Meanwhile, XRP, trading near $1.40, appears relatively vulnerable after breaking below a key support trendline. Even if it surpasses the immediate resistance range of $1.60 to $1.90, Soloway emphasized that it must decisively clear and hold above the psychological and technical barrier of $2 to trigger a truly explosive large-scale rally.

Expectations for favorable cryptocurrency regulatory improvements to be discussed in Washington, D.C., are cited as a hidden driving force behind the current rebound. As widespread market pessimism ironically fuels a rapid short squeeze and pushes prices higher, investors should closely monitor whether key resistance levels are broken for each coin and be prepared to act swiftly.

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