A sustained, slow short squeeze seems to be going on. Short interest levels have recently been at all time high, similar to 12 April 2018, which saw a massive 1 day blitz short squeeze. But what took 1 day then - or rather just 1 hour - is now a much more drawn-out process. I think the intent of whale market participants behind the current slow squeeze is to turn the market from bear to bull.
So, I made this chart to help me monitor and analyse the current short squeeze.
Have a nice day.
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The vertical orange lines in this chart correspond to the main market turns, derived from the BTC daily price chart. So, these vertical lines are precise, not arbitrary.
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The 2018 bear market in Bitcoin seems to be turning around and the bottom now seems behind us. The short/long ratio remains very high because shorts are "in denial" about the current rally (high short interest), while BTC price is "climbing a wall of worry" (low long interest).
Trade closed: target reached
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Today, 31 August, marks the point that short interest has returned to normal levels. So, the short squeeze effect in the market is now completely finished.
Trade active
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Today a new short trap is in the making. Don't short this early bull phase, it's way too dangerous.
The whales are tired of being blamed for "Manipulation" of Bitcoin Prices, so instead of doing a Flash Pump, they are doing a Slow Pump so that nobody can say it is manipulation anymore LOL
EagleView777
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@Infinityzones, these whales are the smart money. You want to join them, not go against them, because they know their business.