jamiecassels
Long

Bear Massacre Incoming LONG BTC

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Long Live the King! Zooming out and looking at the short positions they have formed a long term wedge which they have fallen out of and are currently flagging against. This is a sign of a drop in shorts incoming and when that happens we can expect a rally in BTC prices. BTC price on the other hand has broken through and tested major resistance so prices could really breakout and fast from here. GL
@jamiecassels Buddy cool strategy. I think everything will work out. I will follow you, interesting how it will end
+1 Reply
Don't shorts have to be higher in order to provide fuel (via liquidations) for BTC to move upwards through resistance... particularly at 6K?
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jamiecassels GeoffreyWLane
@GeoffreyWLane, I don't think that shorts will get above a re-test of the wedge @ ~25000 (for a while).
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