BitcoinBearSlayer

B T C Shorts to return soon?

BITFINEX:BTCUSDSHORTS   BTCUSD Shorts
I thought I posted this earlier but I guess it didn't take. At any rate, this chart looks at the bit-coin shorts. As you can see the rising wedge followed by a selloff followed by what appears to be a cup and handle type pattern. If this pattern plays out like other valid cup and handle patterns then it would indicate a break upward at some point. A rise in shorts, of course, should lead to a further decline in the cash price. Regardless, I think its worth keeping an eye on what the short sellers are doing as it is usually the inverse of what the cash price is doing / going to do.

Not advice, just an observation. Your mileage may vary. :0)

Comments

Agree, I think we go down this week followed by a bounce next week. Interesting to observe is that sentiment is turning bullish and that people think we reached the bottom. In my experience, it is never that easy with Bitcoin...
+1 Reply
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