Bitcoin Setting up for a Long Squeeze
Updated
Hello Traders,
The unusual amount of margin longs open combined with that symmetrical triangle break looks like we could see a long squeeze.
The unusual amount of margin longs open combined with that symmetrical triangle break looks like we could see a long squeeze.
Note
Its breaking down but longs are still opening. hmm. Note
This is weird. I was expecting a squeeze but not a massive close of long positions on absolutely no volume. There are 2 BTC long tickers for Bitfinex. BTCUSDLONGS and BTCUSTLONGS. Can someone clarify what BTCUSTLONGS actually are.BTCUSTLONGS Last 342.58 -3755.7236 (-91.64%) According to this 3755.7236 BTC worth of margin positions were closed. -91.64% of that tickers longs, no volume on the BTC:USD or BTC:UST pair. Something isn't making sense here.
Note
longs still not closing. Note
Target hit. Longs are on crack. 
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