Get started
Bitcoin
Short

LATE SHORTERS(GENIUS) SQUEEZE

By burakb
Updated
Late shorters , were bullish just a few days ago, who thought yesterday that " oh 30k support is broken I will short here, I am a GENIUS!!" people will be wiped out with the latest pump action. This green movement will stop when they are liquaidated and/or long again. Probably at most 32.5k - 33k . Still Supply trendline shows 31500 is the turning point but I think we will have a fakeout considering Elon Mush charlatan will make some pumping talk tonight in his crypto debate.

Check my related ideas below.

Not a financial advice, just amateur ideas, thoughts.
Note
And Wyckoff says, Redistribution usually ends with high volatility. Which we are witnessing for the last 2 days.
Note
It had a huge sell off at 32.8k .
Note
Each red candle volume is bigger than Green candle volume. If u study wyckoff u will see this is not accumulation but redistribution. Accumulation would have been the opposite.
Note
Last Green candles are strong but not super strong . Still this PA fits to Wyckoff accumulation. Also redistribution says volatility is very high at the end. So this is a part where anybody calls we go up or down is biased. We should wait confirmation. If smb tells me that I have to choose a side, I would still choose redistribution.
CryptocurrencyTrend Analysiswyckoffdistribution
burakb

Related publications

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.