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We're still long from 6.5k, and we still have a ways to push up yet.
In April it went from 7k to 10k with that short squeeze. As previously mentioned, we are now in the midst of the same scenario. Strong MACD cross, RSI looks good.
What's interesting about this scenario that's playing out is the last initial short squeeze propelled BTC from 7k to 8k and went down by 14k in contracts. While we have moved up from 6-7k and there has only been a squeeze out of roughly 7k in contracts. We still have a lot of lemonade to make with those bear tears and this will continue to drive BTC higher.
We'll look to get out just under 10k. You can put a protective stop in place, all though I don't think it's necessary. Timing wise, I think this will take until the end of September.
Happy Trading,
-Sherem
In April it went from 7k to 10k with that short squeeze. As previously mentioned, we are now in the midst of the same scenario. Strong MACD cross, RSI looks good.
What's interesting about this scenario that's playing out is the last initial short squeeze propelled BTC from 7k to 8k and went down by 14k in contracts. While we have moved up from 6-7k and there has only been a squeeze out of roughly 7k in contracts. We still have a lot of lemonade to make with those bear tears and this will continue to drive BTC higher.
We'll look to get out just under 10k. You can put a protective stop in place, all though I don't think it's necessary. Timing wise, I think this will take until the end of September.
Happy Trading,
-Sherem
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Previous ideas for reference:
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and please remember to hit the like button!
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A quick update, It appears we are coming to this 6.7k support area and trendline, i imagine we will get a move up from here. We only need to be worried about more downside if the 6.5k area doesn't hold
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Still holding. We are looking good. Next stop 7.5k.
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almost at 7.5k, expect some pull back and then the trend to continue. Click refresh on the btcusdshorts positions and you will notice we now have a lot of people who just shorted it. More short squeeze coming.
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Crazy move. You should have either gotten stopped out just above 6.5k for a break even/ profit. Or are into hodl mode. I am actually not to worried about holding, we should find support here.
Reason for the move? A large short increase and longs hardly dumped....
Reason for the move? A large short increase and longs hardly dumped....
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shorts are exiting while price of bitcoin drops. no there are more longs than shorts. Longs will get rekt soon lol
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I acctuly agree that these shorts are going to get rekt.
The rekt analysis is good. Thanks.
I did Call this rektifying process in an idea translated into making Money.
Take a look.
And i promise i wont sell you bad trading coruses, bad trading t-shirts, and exlcusive content in chat Groups.
LOOOOOL. Its free, and you make Money.
The rekt analysis is good. Thanks.
I did Call this rektifying process in an idea translated into making Money.
Take a look.
And i promise i wont sell you bad trading coruses, bad trading t-shirts, and exlcusive content in chat Groups.
LOOOOOL. Its free, and you make Money.
Reply
If BTC gets over (and stays over) $7500, then I will give your prediction a chance. There are still some mine fields to traverse before we do any cartwheels just yet.
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