ickylevel
Long

BITCOIN: Impact of the next short squeeze

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello,

Have a look at BTCUSDSHORTS , you'll see that the shorts are piling up in a way that is reminiscent of 12/04/2018.
https://www.tradingview.com/chart/xkLyeZ...

I have circled in yellow the impact of the different shorts 'squeezes' we had in the past.
I write this on the 09/08/2018, and from the look of BTCUSDSHORTS I think we can have BTC go up as much as during the 12/04/2018 squeeze, maybe even more depending on how much more shorts we will get. This might bring us to the previous high, and possibly break it, triggering a new bullish cycle for BTC .

But the price might just go down and the shorts could be covered. We will have to see.
Comment: Shorts keep going up but BTC is going up as well, very positive sign.
Comment: According to this analysis I just made the price should go up in 4 days.
Comment: The squeeze hasn't even happened yet and we are up...
Comment: Bears have managed to bring BTC a bit lower by shorting it (look at my BTCUSDSHORTS analysis).
Comment: If shorts start falling now another scenario is that we will go up to the 7300 level and stagnate there, and then go down again (instead of breaking 8k). That's annoying but the end result should be bullish.
Comment:
Comment: Or this, because the scenario above would be a bit dangerous for bulls.
Comment: I don't like what I'm seeing. It looks like shorters decided to buy back, without a squeeze.
Comment: Shorts are either going to slowly go back up and not follow my initial time prediction, or will keep going down.
The impact of a short squeeze won't be relevant for the time being.
Comment: This is more likely now :

Comment: It's taking longer than expected. They are opening more shorts .But it's going down at the same time.
Comment: I guess whales need to accumulate...
Comment: If there was a short squeeze now we would break the resistance.

Comments

but we will not break the triangle, just another dead cat bounce. a short sqeeze can't turn the whole trend. Also I am still missing real capitilation by the longs. btw long/short ratio should tell as a different story. there are still too many longs in the market. you are only looking on the shorts
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we will go to 6850 as I expected it even with the short sqeeze to form the right shoulder of a H&S
Reply
ickylevel MOONSOON1337
@MOONSOON1337, It's a possibility.
Reply

let's break the high
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