Bitfinex shorts are at all time high: $570 million dollars shorted, most underwater or at break even since June 7th. All with daily bullish RSI divergence and weekly 50 MA support.
If price dips: they will cover and provide a floor
If price rips: they will get liquidated and cover, and we rip harder
Incoming short squeeze of epic proportion>
If price dips: they will cover and provide a floor
If price rips: they will get liquidated and cover, and we rip harder
Incoming short squeeze of epic proportion>
Note
Here's how the shorts mooned from $50 million to $580 million since June 7thAll of these are underwater or near break even now
Note
$660 million short :O Note
$714 million notional value short. This could get uglyNote
Most of the shorts opened in this time-range so we can expect $35k to $36.5k to be 'underwater bear support'
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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.