Hi,
a quick update, since BTC is doint it's boring thing again.
However, interestingly, we have now a similar situation as in early April. The shorts are rising more and more, and will soon be higher than the longs.
In this case, I think we'll see a nice short squeeze, as in April.
I'll keep a close eye on the long/short ratio at Bitfinex. The indicators are otherwise oversold on one week and three days, which coould indeed mean that we'll see short term pumps up to 10k.
And then when everyone is hoping for the bullmarket again, and longs are high again, BTC will probably brutally destroy all hopes and dreams and continue with the bearmarket till 2019, hehe.
a quick update, since BTC is doint it's boring thing again.
However, interestingly, we have now a similar situation as in early April. The shorts are rising more and more, and will soon be higher than the longs.
In this case, I think we'll see a nice short squeeze, as in April.
I'll keep a close eye on the long/short ratio at Bitfinex. The indicators are otherwise oversold on one week and three days, which coould indeed mean that we'll see short term pumps up to 10k.
And then when everyone is hoping for the bullmarket again, and longs are high again, BTC will probably brutally destroy all hopes and dreams and continue with the bearmarket till 2019, hehe.
Comment:
No, this wasn't the short squeeze yet :) It was too small, and the longs are instantly high again. They need to come down more, shorts need to rise more, so that we get this epic green candle. I could be wrong of course, however, I think there will be one more bart down to 6400 again, before we see the big short squeeze. Let's see.
Comment:
The shorts don't really want to rise. This is interesting. The sentiment is much more bullish than in April, which makes me think more and more that we'll get another long squeeze instead of a short squeeze. If the longs don't go significantly down within the next days, I think a dump becomes pretty likely.
Comment:
And surprise, surprise, longs are still high, sentiment too bullish, I guess many noobs in the market hoping for moon, and of course the opposite happens, with dumps. As long as the sentiment remains too bullish, I don't see a short-squeeze happening. I even assume that we might go as low as 4800 in this dump.