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)