The last FOUR times retail were NET LONG on Bitcoin.
The counter argument - 'Yes but longs were rising into the previous rally Mr Scarface shuddupa yo face.'
Sure they were but retail were net short at the literal bottom and the relief rally squeezed shorts like a lemon and ultimately triggered a non stop pump through decimating liquidations. Difference now is shorts ain't playing ball. Bottom shorters are now longing
I am not saying this dumps I am just providing a little segment of worthwhile analysis to take into account when opening positions based on your own analysis.
Longs have been rising this entire range bound price since christmas day.
Are they confident or are they being walked off a cliff?