BTCINVESTING

BTCUSD: And even more bad news for bears!

Long
BITFINEX:BTCUSDSHORTS   BTCUSD Shorts
Hello my friends!

It was the largest percentage increase of shorts ever. Btw I would never short BTC after a 50/60% move down. The risk reward is way too high.

You all know for example from gamestop what a short squeese can do and how the price bounces. In the last two weeks, the shorts have risen by about 2300%. For comparison, at the last strong drop in march 2020, the increase was only 300%. So for me, this means that a large number of shorts will be closed. When the price was at 60k, the shorts were down. Now at 35k, a lot of people are getting in. Not understandable for me. I estimate for most shorts the stop areas will be at around 40 /42k. Therefore I expect a pump to liquidating the shorts. And the smart money might get some $ soon. Lets see.


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Let's see what happens.
Happy trading. :-)

BTCINVESTING


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My 2. Post "Another bad news for bears!" Jun 7, 2021




My 1. Post "Bad news for bears!" May 31, 2021




My Post Apr 18, 2021




My Post Nov 19, 2020




My Post Apr 15, 2019 (2 year ago!). I was one of the first btw. ;-)





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Comment: maybe a nice breakout. lets see if its strong enough.

Comment: Updated chart: Look what is actually happening. The shorts dropped by over 80% in 4 days.

Comment: $ 111,000,000 of shorts liquidated in 10 minutes, yesterday.
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BTCINVESTING 😃
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Comments

Hi. Is there any other reason for the shorts? For example, could there be some planned effort to do it by a 'group' because they know some "bad news' or strong regulation is about to be announced that will impact the price? Just curious if there is any other explanation because it seems extra high number of shorts.
+9 Reply
BTCINVESTING noideaihave
@noideaihave, thx for your comment. yes ofc. everthing is possible at btc. i look only at candles and line. they say enough for me in this situation. :-)
+2 Reply
Can't you use the same logic for longs? :P
+5 Reply
@Majnoonu, yes this is possible. in my eyes the bottom is around 30 k. one more drop could be. thx for your comment. :-)
+1 Reply
tanopasqua Majnoonu
@Majnoonu, brace yourselves for 10k in September
Reply
BTCINVESTING tanopasqua
Reply
I think a lot of shorts are trapped between 31K-35K (area of the last false breakdown from the symmetrical triangle). If bulls can mount a rally to form a higher high above 38.5K, i think we will trigger some short stop losses, which will then likely start a chain reaction of short liquidations and a the large short squeeze. First thing though is we need to break above 36.2K to confirm a W bottom breakout on the hourly in order to start the rally.
+3 Reply
BTCINVESTING cryptotraderog
@cryptotraderog, absolutly correct. thx for your comment. :-)
+1 Reply
RamzaBehoulve cryptotraderog
@cryptotraderog, You need to get over 42k to trigger shorts stop losses. These are smart money shorts, not the herd.
+2 Reply