EOS greed - short squeeze might happen

Shorters are too greedy in EOS. EOS dropped 30% in the last 24h and too many traders are still thinking it's an easy trade to short EOS. But they forget to watch EOSUSD SHORTS chart. This chart says that EOS shorts are still builing up, but shorters are not able to push the price lower anymore. That's the same situation that happened to BTC on 12th april 2018. When shorts are accumulating at the same price level, if bulls manage to push the price higher in a green pump, shorters will start to close their positions. And when there are many short positions on the same price level, this results in a massive "short squeeze".

Of course don't forget that shorts building up and price not moving down is not a guaranteed indicator that price will go up. Bears can still win and push the price down in the end and close their positions normally. But.. if bulls manage to make a push, it's a very bad situation for the bears, as all of the will start closing their shorts together (= buying).

BTC shorts are also on a rise, with BTC daily RSI touching oversold level, history shows that we always had a rally after that. This is a good time for long EOS position imho. If you're not sure about that, just wait for the squeeze pump to enter. Also EOSBTC is in support zone atm (0.00160 - 0.00167).


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