This shorting idea is a continuation of my previous post, you may check it below.
imgur.com/a/4wmKbwB
binance.com/en/futures/funding-history/3
Before that 8% pump that happened in 15 minutes. People on binance were panicking that it will go down more, so they shorted too much. Now what? Well binance l/s charts talking for itself - everybody is long again. l/s increased almost 65% over the past day. This is insane!!!
Bitfinex longs decided to long because this is the time to rocket really, rally fast. (Long and short mass in the uptrend - bearish)
70 mil liquidations on bitmex. 65 million contracts out of the market
As you understood, this wick made an incredible damage to shorts, and made everybody bullish again.
WYCKOFF
If OI goes up once once we dump, there will be more downside. Play safe. I will trade it once we break. Maybe enter with small position
imgur.com/a/4wmKbwB
binance.com/en/futures/funding-history/3
Before that 8% pump that happened in 15 minutes. People on binance were panicking that it will go down more, so they shorted too much. Now what? Well binance l/s charts talking for itself - everybody is long again. l/s increased almost 65% over the past day. This is insane!!!
Bitfinex longs decided to long because this is the time to rocket really, rally fast. (Long and short mass in the uptrend - bearish)
70 mil liquidations on bitmex. 65 million contracts out of the market
As you understood, this wick made an incredible damage to shorts, and made everybody bullish again.
WYCKOFF
If OI goes up once once we dump, there will be more downside. Play safe. I will trade it once we break. Maybe enter with small position
Note
shorting ETH may be even better idea
Trade active
7515Stoploss - 7%
Trade closed manually
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closed short at 0.5% loss Will wait for confirmation. This kind of price action may drive the price anywhereNote
"What if i am wrong?" 1. Mining capitulation signal.
2. Dump and run pattern
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This wick eat all asks. There are 2 times less sellers than buyersNote
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tradinglite.com/ --- beter visualization of bitmex and binance ordersNote
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On binance there is a clear resistance with a large seller around 7700Note
My opinion, if you break it, the price will go up even moreTrade active
Long. Entry 7700Note
stop loss 7%Note
i do not care where the are you going BTC, just pls breakOrder cancelled
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wowowow waiting for break outmaybe i was drunk or something. I didnt trade that
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it doesnt take a lot of volume to go up now
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Disclaimer
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.