Short Squeeze is highly likely. I'm Long till 6600
price has fallen downward and is testing the lower edge of the 4 hour cloud.
4hour cloud has twisted bullish
rsi is nominal
stoch rsi nominal, pointing downward...sort of
volume is bearish on previous 4 hour candle
proprietary tool says we are going sideways
margin positions:
25.960k long vs. 38.49k short on btc/usd pair for bitfinex
I believe there is more reward to go long and I think we will squeeze shorts yet again and perhaps touch 6500-6600+ again within the next 36 hours. We may even go toward 6800. To be clear..I am not super bullish. I just think there are too many bearish. On the bearish side, things look so-so. It could be a bulltrap. I'd wager it is a beartrap now though.
4hour cloud has twisted bullish
rsi is nominal
stoch rsi nominal, pointing downward...sort of
volume is bearish on previous 4 hour candle
proprietary tool says we are going sideways
margin positions:
25.960k long vs. 38.49k short on btc/usd pair for bitfinex
I believe there is more reward to go long and I think we will squeeze shorts yet again and perhaps touch 6500-6600+ again within the next 36 hours. We may even go toward 6800. To be clear..I am not super bullish. I just think there are too many bearish. On the bearish side, things look so-so. It could be a bulltrap. I'd wager it is a beartrap now though.
Note
All time high shorts? Is this what I'm seeing?25.929k long @ .009%/day && 39.429k short @ .011%/day. bitcoin on bitfinex seems to be at an all-time high in shorts. i think short squeeze has a high likelihood of occuring.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.