I am very hesitant to short anymore what with the skyrocketing short positions. The long positions remain higher - BUT - since the 7th they've gone up a mere 3k from 43 to 46k whereas shorts have skyrocketed from 1,500 to 19,000 in the same time frame and remain very high. Some may be using this as an indicator to give further credence to taking their own short...
Again we continue to observe BTCUSD SHORTS mounting and reaching record high. What does this translate to?
1) The market sentiment is bearish
2) Market volatility is expected to be high
3) Place your bids low to catch BTC... if it falls. Mine are set at 27.5k and 25.5k
4) Expect BTC to pump liquidating the shorts, then it may or may not fall. This remains pure...
Nobody with capital wants bitcoin anymore.
retail jumping in front of a high speed train, thinking theyre grabbing dips.
looks like the sub $20,000 calls you saw a few weeks ago had it correct.
Risk Tolerance is off the table, now that inflation and tapering are part of the MSM narrative
It seems that the increase of short positions have stopped. When the short positions were opened on may 17, a day later bitcoin dropped from 43k to 30k. This time, there are even more shorts, and the increase is even steeper.
I wouldn't be surprised if Bitcoin will go down by a lot about a day after I publish this, same as on may 17. Personally, I also wouldn't...
In a few Days from 1000BTC Short to 18000BTC Short... means 17000 new Shorts... last Time this happend ca -61% correction happend so this chart shows similar target, High from Jun 2019.
+SHS Pattern with Target 20.000$-23.000$
Strong and Short.
Do you remember our analysis from 1.May? You should check it. We predicted bitcoin dump.
See a charts of short position. Do you really think that bitcoin will go down and most of traders who have shorts now will be rich?
Only 10% of people are longterm successful in trading. If you want to be...
There's a huge spike in BTC/USD Shorts exceeding 200% on the daily and can be seen clearly on the 4H chart. This is a very strong indication of a coming dump in BTC/USD chart that could be triggered in a better of few hours or a matter of three days max.
What one could do in such scenario is:
1) Place tight SL for Alts
2) Place bids for BTC
Btc looks enormously bearish, as this could be another leg down it could also be a giant bear trap liquidation hunt to the upside. Alerts set, stay chill today folks :)
Any time the RSI has been @ this level on the BTCUSDSHORTS chart we have had a large move to the upside. Will the trend break? The trend is your friend until the end.
Back test it yourself.