eBlockChain

Huge spike in BTCUSD SHORTS!

Short
BITFINEX:BTCUSDSHORTS   BTCUSD Shorts
There's a huge spike in BTC /USD Shorts exceeding 200% on the daily and can be seen clearly on the 4H chart. This is a very strong indication of a coming dump in BTC /USD chart that could be triggered in a better of few hours or a matter of three days max.

What one could do in such scenario is:
1) Place tight SL for Alts
2) Place bids for BTC
Unless you figure a way to make money while you sleep, you’ll work till you die.

Comments

Thanks for the heads up
+1 Reply
How did all these shorts see the drop coming that accurately?
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eBlockChain jeremiahjones
@jeremiahjones, IMHO:
1) Fake breakout from the symmetrical triangle
2) As traders short on margin trades, they bid on spot at FIB Retracement bottoms
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jeremiahjones eBlockChain
@eBlockChain, ah I see. There is currently another spike in shorts but that is probably because of the pullback
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"Place bids for BTC". What does this mean? Sorry about silly question.
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eBlockChain alphanon
@alphanon, When you anticipate a drop in BTC value, you want to buy BTC at a lower price.
+1 Reply
Yes, this same large increase in shorts happened roughly 24 hours before that sharp drop from 43-30k a few weeks back. Strong indication for another dump indeed.
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@WITSIT, I consider it a market sentiment, and a warning to be cautious. After all, whales tend to liquidate the retail investors with market orders.
+1 Reply
Sorry for asking, but how is this graph calculated?
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AmirBercovitz AmirBercovitz
@AmirBercovitz, thank you for sharing
Reply