Self explanatory but remember 90% of people get it wrong. We should see a drop in about a week or so as shorts are close to a bottom. Barely anyone is shorting. Check the dates where shorts were high and low vrs price action and you will see the time cycle.
Total leverage exposure is starting to reach towards lows which have been seen at each previous top preceding a dump in this market.
Longs have increased from 20k to 30k from $6k
Shorts are reaching the 20k lows which we have seen in advance of each previous dump
Conclusion – Retest of 3k coming.. eventually it will be but prly need to clean these longs out first.
Good morning. Here at BitOoda, we have been BEARISH of BTC and remain of that opinion. $3,600 has been, what we feel, as the key ‘magnet’ level between the range of $3,200 and $4,000. There is a battle between the bulls and bears at this price, and we feel the BEARS could likely prevail. We will consider changing our view if and when there is CAPITULATION in ...
Mark the highlighted dates down and see what happened to BTC .
The marked crash 10% around Aug 5 2018 , then on Nov 9 that same year 32% what come next !!!
Time to rejoice , this allows me to add more to the bag.
Longs have TOP-ed out.
Shorts have BOTTOM-ed out.
Usually 90% of cases these will go each in opposite direction very soon. As Long-ers are caught up-there since 4xxx$ levels currently are on NEGATIVE. While Shorte-rs are playing the small swings until a good opportunity arises to short after this weak BULL performance.
As you can see here, shorts are low and are bound to spike up sharply while the price tanks; likely within the next 1-16 days. We are either going to see a second bottom just over $3000 USD or a rollover into a new low somewhere between $900 and $2000. After this we can look forward to a great trading channel forming while the market prepares for a supper's rally ...
We are entering into an extreme dangerous zone for shorts. Whenever BTCUSDLONGS v SHORTS gets under 1 (more shorts than longs) the chance of a major short squeeze grows rapidly. When the ratio gets to between .6 to .8 the squeeze is virtually imminent, and it is often violent.
We are currently at .62, which is effectively the all time low.
The reason why this ...
Here is a different perspective. We made what some may consider a large move up, but BTCUSD shorts have not really been squeezed yet. So far this move looks like it has enough momentum to get us to 7050-7150 which could be accelerated with a real short squeeze. I'm bullish on the short term and looking to enter short positions around those levels.