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.
코멘트:
Oh come on
코멘트:
To make it clear I'm not long, just watching it for fun. I still hold the shorts since 9K
코멘트:
fractal hmmm
코멘트:
코멘트:
코멘트:
On Bitmex previous high almost = 1.272 (= 7050)
코멘트:
previous low*
코멘트:
Bitcoin margin shorters, Mr Soros please do it already
코멘트:
Literally ATH
코멘트:
The question will the move up or down squeeze it
코멘트:
the question is*
코멘트:
Volume is getting lower as well
코멘트:
divergence on a divergence
코멘트:
looks organic
코멘트:
This idea is a total failure XD
코멘트:
Ok not a complete failure, but now we have a relatively low volume pump and bearish div:
코멘트:
Shorts squeezing as expected
코멘트:
The top can be already in or we might continue the pump to 7050 (1.272 retrcement + bbands):
코멘트:
Bear flag/rising broadening wedge target exactly on previous daily low (5920):