BTC - Word of The Day -"SHORT SQUEEZE"

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We mention over and over the dangers of margin trading, especially at ridiculous levels like 25/1 or some even higher. We also mentioned we want to be positioned contrary to the herd. Well today many are waking up to their first lesson about risky trading and after bragging for weeks how much they are making shorting, are now in the red with gains erased and then some.

We will hear them blame the whales, talk about market manipulation, and how this should not have happened, but we have been mentioning over and over that the short interest was at all time highs and this is a perfect setup for a short squeeze. We positioned ourselves accordingly and the 1:1 R:R is now way into the money. This is where patience has paid off. Now we are not right on every call and the market has taken a different direction, but the difference is risk management.

If you are going to blame someone for getting REKT during the short squeeze, take a look in the mirror, and that is who you should be blaming. Taking unnecessary risks, trying to make a homerun where basehits win games is the reason your account is now zero. Sure we will hear the "ohhh i got out just before the pop" but I can tell you this is BS!

Technically we blew right through the 7480 level and are managing our current trades by reducing our ETH risk in half just hours before the pop. As our targets have been hit I am closing the BTC and other half of the ETH trade. 7480 is now the level that needs to hold, however, it can go as low as 7265 and still be a valid bullish move with extreme support at 7200. Right now it is risk off and wait for the market to stabilize, this is not the time to try and trade.

We have closed our BTC and ETH trades and shaved off half of the OMG positional trade. We did not sell any Wabi as this is a longer term hold and was trading at 90% below its high.

In closing patience has paid off in being positioned opposite the herd where when that moves happen it is painful.
thats two words...
+2 Reply
Those who still have open shorts better cover now and for God's sake DO NOT SHORT BITCOIN!. Long term MACD indicates major trend reversal.
I agree goldbug definitely best to be taking your chips off the table now if you haven't already, we got what we came for now just wait for the next setup to structure - I expect a turnaround here soon @ the bearish downtrend line
+1 Reply
ETH touch my target:


Loook at bigger picture its not a FUD or FOMO its just an idea
I cannot give anything back exept: you should really have a deeper look into iota if you havent. They aquired so many people with deep ties into all kinds of key industies, they are a very determined team, they negated every bad press since the massive fud. I dont know if it is common knowledge yet because the article announcing it was in german: IOTA and fujitzu will present an application at the next trade fair in Hannover for industry running the iota ledger.
I those guy deliver even half of what they promised for this year iota will go nuclear :) have a nice day!
Hello Guldbug,
just wanted to say thank you i really apreciate your Posts.
You put me straight twice since i started to "gamble" in cryptos, first time back in December when you where one of the fewer voices of reason and a week ago again. I made a nice little profit and accumulated a little more cryptos and I also think it is not a bad idea to take some risk out and enjoy the moment waiting for the next ride.

Short squeeze or not, is incredible what powerful momentum cryptos can get when unleashed.
And if I recapitulate the last weeks it doesnt surprise me: reading posts on this site, 9/10 traders calling for 4-5k mentioned almost in the same sentence that "it is where it has to go" and then made a call for 30k by end of 2018. Basically everybody was running the engine at full throtlle and waiting for the green light. Even the most negative People here, were and are bulls. I think 2018 will be green candle paradise but beeing a little careful after this huge spike should be natural.

Thanks again, always enjoying reading your post and i really love it that you keep "told you so, moon, whales and manipulation" out of your vocabulary.

Yep, short squeeze.

Still not long yet though. It's one thing silly shorts being squeezed and another having enough genuine bullish interest to keep the ball rolling.
+1 Reply
bearish divergence right here.
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