Bitcoin Cash is currently having an insane pump. Many of you probably have thought about shorting it or have already done so.
But be careful. Look at the massive amounts of shorts being opened during the pump. You do not want to get caught up in a short squeeze, which is what happened for XRP. Instead, if you wish to short it, just wait for a 50% correction and short the bounce from 0.5 for a much safer short entry, You will catch most the profits without the risk of shorting currently.
While I do suspect the rally is ending soon, opening a short when shorts are insanely high is very risky. Keep in mind shorters need to buy back into the market.
During the XRP rally, the shorters opened the position and price pushed 50% higher, causing cascade of liquidations. The remaining shorters managed to close their positions at the exact top. The same could be happening for Bitcoin Cash.
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But be careful. Look at the massive amounts of shorts being opened during the pump. You do not want to get caught up in a short squeeze, which is what happened for XRP. Instead, if you wish to short it, just wait for a 50% correction and short the bounce from 0.5 for a much safer short entry, You will catch most the profits without the risk of shorting currently.
While I do suspect the rally is ending soon, opening a short when shorts are insanely high is very risky. Keep in mind shorters need to buy back into the market.
During the XRP rally, the shorters opened the position and price pushed 50% higher, causing cascade of liquidations. The remaining shorters managed to close their positions at the exact top. The same could be happening for Bitcoin Cash.
Thanks for viewing! View previous ideas in related section.
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Price still increasing,
Price still increasing,
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First sign of weakness. If it corrects to 0.5 we know for sure that was the top. Usually we get a bounce back to 70% after hitting 50%.
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Nope still going
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Currently now is the time to short. Wait for pullback upward then enter.
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Up 5.5% on BCH short.
BCHUSDSHORTS still increasing.