Short positions on Bitfinex are now at all time high (ATH), and comparable to 12 April 2018. What happened then was a massive USD 1,000 short squeeze in just 1 hour, followed by almost a month long rally.
This is now bound to happen again. How far can we rally this time around (late August 2018)? I think we may test the 200-day MA (orange line), or even the 50-week MA (green line)!
I'm massively long BTC.
This is now bound to happen again. How far can we rally this time around (late August 2018)? I think we may test the 200-day MA (orange line), or even the 50-week MA (green line)!
I'm massively long BTC.
Comment:
Very interesting article: www.coindesk.com/ral...ction-seen-in-april/
Comment:
If - and that is if - we are going to rally from a temporary bottom, it is nice that the rally let's everybody in who wants to be long. Because we have been moving sideways for many days, and we still are range-bound right now.
Comment:
Although my trade is working out very well, my post hasn't received any like so far. From a contrarian point of view this is very good news ;-)
It is all Fibonacci.