Longs are going up, up and up. They are up another 4.8% since you posted. Who are they? Certainly not the public/retail sector. Maybe the longs know something we don't? Are they planning an event that will take BTC price much higher?
@snookerer, I'm thinking the whales are going to run the price up to 7.5k or even 7.8k and keep it there for a few days as a bull trap, then sell their longs and short it all the way down to 6.5k or even lower. They need to entice a few more bulls in with a rebound before falling further. We were at 7.8k only 2 weeks ago. If the price keeps dropping from where we are at now, 7.2k, it will turn everyone bearish and everyone will just short or sell. The whales need to sow some more hopium in order to maximize their profits. Just my thoughts. We should know by Monday.