A very simple idea. No shoulders, no waves, no cups or flags. Just logic. There are 33000 BCH coins in shorts on Bitfinex alone. 25000 of them entered in the past 5 days. This means that a good half entered below 1000$ and they are under water. And bitfinex is typically a good indicator of what is going on other platforms. So, where shorters are going to surrender? Probably above 200ma line on daily candles and BCH is already knocking that door.
Sure, bitcoin can start going down as soon as institutional investors will come back to their offices tomorrow and drag all other currencies with it. But what if it won’t? What if BTC will go sideways for another day or two? Would it be easier for a whale to bring the price of BCH $400 down knowing that there are bujillions of tokens in shorts or just some $70-100 up? As soon as the first shorters will start getting liquidated you will see a huge HUGE short squeeze.
When lemmings cluster together they are an easier pray for hawks. So, what do you think hawks will do?
Check out shorts over here:
www.tradingview.com/chart/GYMayUfg/
Sure, bitcoin can start going down as soon as institutional investors will come back to their offices tomorrow and drag all other currencies with it. But what if it won’t? What if BTC will go sideways for another day or two? Would it be easier for a whale to bring the price of BCH $400 down knowing that there are bujillions of tokens in shorts or just some $70-100 up? As soon as the first shorters will start getting liquidated you will see a huge HUGE short squeeze.
When lemmings cluster together they are an easier pray for hawks. So, what do you think hawks will do?
Check out shorts over here:
www.tradingview.com/chart/GYMayUfg/
Comment:
Also, it really does look like big hands "help" bitcoin cash a little bit. What makes me believe that? Well, this: coinmarketcap.com/cu...encies/bitcoin-cash/
Look how the volume from Bithumb moved to the 3rd position in the ranking. It was like 12th or even lower a few days ago. Let me remind that Bithumb is the place where big pumps are often coming from. This exchange was the main driver of all major BCH pumps including the one that move it 0.5 BTC per coin.
Look how the volume from Bithumb moved to the 3rd position in the ranking. It was like 12th or even lower a few days ago. Let me remind that Bithumb is the place where big pumps are often coming from. This exchange was the main driver of all major BCH pumps including the one that move it 0.5 BTC per coin.
Comment:
That shows how the first wave of shorters gets destroyed. Four to go:
www.tradingview.com/chart/7lnomzV8/
www.tradingview.com/chart/7lnomzV8/
Looks like shorters decided stand their ground till the end :) These people reaaaally believe (hope?) it is going to go down like right now. I wonder what will happen if whales add another 100$ to the price ><
www.tradingview.com/chart/GYMayUfg/