Bitcoin: there might be a better place for your shorts
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It's illogical, but as bitcoin keeps dropping people seem to be adding up to their short positions:
This parabolic rises in shorts are often followed by squeezes and painful liquidations of overleveraged traders. Now you can see that the environment is suitable for this as we have clean bullish divergences on major indicators and the price has just landed on a support (previous bottom). Of course the impulsive move down can invalidate them, but i think this is unlikely. If you're looking to short, I'd be more careful now. My longer term view hasn't changed, but the retrace to some higher level close to 7k is reasonable.
This parabolic rises in shorts are often followed by squeezes and painful liquidations of overleveraged traders. Now you can see that the environment is suitable for this as we have clean bullish divergences on major indicators and the price has just landed on a support (previous bottom). Of course the impulsive move down can invalidate them, but i think this is unlikely. If you're looking to short, I'd be more careful now. My longer term view hasn't changed, but the retrace to some higher level close to 7k is reasonable.
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Oh come on註釋
To make it clear I'm not long, just watching it for fun. I still hold the shorts since 9K註釋
fractal hmmm註釋
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On Bitmex previous high almost = 1.272 (= 7050)註釋
previous low*註釋
Bitcoin margin shorters, Mr Soros please do it already註釋
Literally ATH註釋
The question will the move up or down squeeze it註釋
the question is*註釋
Volume is getting lower as well註釋
divergence on a divergence註釋
looks organic註釋
This idea is a total failure XD註釋
Ok not a complete failure, but now we have a relatively low volume pump and bearish div:註釋
Shorts squeezing as expected註釋
The top can be already in or we might continue the pump to 7050 (1.272 retrcement + bbands):註釋
Bear flag/rising broadening wedge target exactly on previous daily low (5920):
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