JoE
Long

What does the recent selling climax tell?

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Disclaimer
***THIS IS NOT AN ADVICE, I AM NOT YOUR FINANCIAL ADVISER***

Most folks are looking at the wrong chart nowadays, if you take a look at coinmarketcap, https://coinmarketcap.com/currencies/vol...
the 24h volume of bitcoin , adding all that will be $3,343,481,000, versus the volume on BitMEX which is $4,922,600,000.
Do you see where I'm going it with?
I bet there's a lot of people shorting bitcoin on that recent lower low break around $9,300, a bounce back above would trigger short squeeze and odds are in favor of bulls.
My play here is to go margin long here and place my stop loss under 8,700. good risk reward .

Disclaimer
***THIS IS NOT AN ADVICE, I AM NOT YOUR FINANCIAL ADVISER***
Mar 09
Trade active: In profit.
Comment removed
JoE peoburns20
@peoburns20, Is that so? All I get from your 'message' was that you are rude.
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@JoE, out of curiosity what was this guy saying? lmao must've been pretty sour to delete his comment.
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JoE Bloobers
@Bloobers, He said I was 'fxxxed' right after this post.
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@JoE, haha nicely done.
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why would you go long after seeing 3 red candles in a row on the daily, that is the signal to gtfo and not trade long
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JoE jgt2803
@jgt2803, 4h RSI oversold, plus I have information ( jap related)which is positive enough to trigger short squeeze.
+1 Reply
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