Hi,
a quick update on the current situation. As showed in my last post, I pointed out that a pump was unlikely because the longs were much too high, and they needed to be reduced first with a dump.
That came true.
Now the longs are quite reduced, however, not to the point where the shorts are much higher than the longs.
I think a true reversal can only come to pass when that is the case. It might be that we'll be barting around in that range now, just like in early April, up to the point when the shorts will far surpass the longs.
At that point we'll se a pretty impressive pump.
Now, we'll either be barting around in this range, 6400-7000, or make a decisive leg down to the 5k area. But this would need to happen fast, as the longs are already quite low. Keep a close watch on the long/short ratio, as it is really
one of the most important indicators.
a quick update on the current situation. As showed in my last post, I pointed out that a pump was unlikely because the longs were much too high, and they needed to be reduced first with a dump.
That came true.
Now the longs are quite reduced, however, not to the point where the shorts are much higher than the longs.
I think a true reversal can only come to pass when that is the case. It might be that we'll be barting around in that range now, just like in early April, up to the point when the shorts will far surpass the longs.
At that point we'll se a pretty impressive pump.
Now, we'll either be barting around in this range, 6400-7000, or make a decisive leg down to the 5k area. But this would need to happen fast, as the longs are already quite low. Keep a close watch on the long/short ratio, as it is really
one of the most important indicators.