SHORTS SHORTS SHORTS SHORT SHORTS SHORTS - ER'RYBODY!
Historically we have now seen TWICE how dangerous this level of shorts can be, yet we are already almost back to yesterdays levels and the MACD is only just curling back up and crossing on the 240.
Im thinking that yesterdays conveniently timed squeeze during the Bitmex Maintenance was just a taste and that another huge spike is yet come to show them what a real short squeeze is all about. I don't know anything for certain but if whales are gonna whale, be prepared to potentially see a $1000 candle to shake a few things up.
This is so top heavy on shorts its not funny.
If you are leveraging and one of the many people in this stack - double check your own trade plan to see if you have scaled out short orders to push out your liquidation point, or triple check that you have a market stop in place.
A $1000 candle aint gonna give your standard stops time to hit. It would be whiplash city.
That candle be getting throw around faster than a 9-tailed whip at a BDSM Party with no safe words.
The other potential action here is slamming up for a brand new ATH from the uptrend and pushing us back down toward the inverted head and shoulders in my other published idea.
This would be incredibly unstable and top heavy for shorts considering what we seen what happened in April.
The bottom wouldnt last for long and there would be some hectic green candles ready to turn us back up the right side of the head pretty quickly once we got there.
TRADE WITH CAUTION!
NOW THE USUAL DISCLAIMER
I have no professional training yo, so don't be thinking that I talk myself up to be a professional - cos Im not.
Everything is educational only and never to be taken as professional advice.
I only post things from a matter of opinion based on the patterns that I notice or deem possible - but never guaranteed.
If you use anything I post to make your decisions it is always at your own risk and Im not liable for you making a choice that didn't work out for you.
Always be safe by throwing on some big boy pants and try to chart out your own charts just to be sure.
Chur
Im thinking that yesterdays conveniently timed squeeze during the Bitmex Maintenance was just a taste and that another huge spike is yet come to show them what a real short squeeze is all about. I don't know anything for certain but if whales are gonna whale, be prepared to potentially see a $1000 candle to shake a few things up.
This is so top heavy on shorts its not funny.
If you are leveraging and one of the many people in this stack - double check your own trade plan to see if you have scaled out short orders to push out your liquidation point, or triple check that you have a market stop in place.
A $1000 candle aint gonna give your standard stops time to hit. It would be whiplash city.
That candle be getting throw around faster than a 9-tailed whip at a BDSM Party with no safe words.
The other potential action here is slamming up for a brand new ATH from the uptrend and pushing us back down toward the inverted head and shoulders in my other published idea.
This would be incredibly unstable and top heavy for shorts considering what we seen what happened in April.
The bottom wouldnt last for long and there would be some hectic green candles ready to turn us back up the right side of the head pretty quickly once we got there.
TRADE WITH CAUTION!
NOW THE USUAL DISCLAIMER
I have no professional training yo, so don't be thinking that I talk myself up to be a professional - cos Im not.
Everything is educational only and never to be taken as professional advice.
I only post things from a matter of opinion based on the patterns that I notice or deem possible - but never guaranteed.
If you use anything I post to make your decisions it is always at your own risk and Im not liable for you making a choice that didn't work out for you.
Always be safe by throwing on some big boy pants and try to chart out your own charts just to be sure.
Chur
Don't forget this is never financial advice, simply some ideas thrown around for discussion and contemplation.
Always check your your own charts, like you check after sharts
Always check your your own charts, like you check after sharts