Hello,
I don't have the answers, I admit I am genuinely confused by the steep climb of BTC shorts (and general increase in shorts when the price is lowest vs reduction when prices are at their local peaks). It also seems that the market is in two minds and predicting a decline below support of $6000 to $5755.
What I would say is that those in short positions haven't had a very good record of picking price drops recently and many of the same people may be showing themselves in the BTC LONGS. This is a time when a lot of people are adding to their long term BTC holdings as they view BTC as being in the accumulation zone. I will admit that I took the opportunity to pick up BTC and XLM at recent lows over the past 24 hours. Remember that just because you will it, doesn't mean that BTC will go where you would like it to go. Let's not be taken in by wishful thinking. What may very likely happen is that a price increases liquidates a lot of these shorts or at least hits their stop-losses and very quickly increases the price before the longs increase and "come to the party".
Oh well, let's see what happens. Good luck everyone.
Disclaimer: you are on your own :)
I don't have the answers, I admit I am genuinely confused by the steep climb of BTC shorts (and general increase in shorts when the price is lowest vs reduction when prices are at their local peaks). It also seems that the market is in two minds and predicting a decline below support of $6000 to $5755.
What I would say is that those in short positions haven't had a very good record of picking price drops recently and many of the same people may be showing themselves in the BTC LONGS. This is a time when a lot of people are adding to their long term BTC holdings as they view BTC as being in the accumulation zone. I will admit that I took the opportunity to pick up BTC and XLM at recent lows over the past 24 hours. Remember that just because you will it, doesn't mean that BTC will go where you would like it to go. Let's not be taken in by wishful thinking. What may very likely happen is that a price increases liquidates a lot of these shorts or at least hits their stop-losses and very quickly increases the price before the longs increase and "come to the party".
Oh well, let's see what happens. Good luck everyone.
Disclaimer: you are on your own :)