BTC/USD - Long term support may hold, short squeeze coming
Updated
BTC/USD long interest is very low on Bitfinex, while short interest is again skyrocketing - see the chart above. I'm expecting a big short squeeze again. Plus, long term support for BTC may hold, so we may start to slowly go up long term from here.
Therefore, I went 50% long BTC today.
Therefore, I went 50% long BTC today.
Note
I bought more BTC today and went 100% long. I'm expecting a massive short squeeze. See my other post which shows BTC/USD short/long ratio at all time high for 2018.Note
I now think that we will have limited upside potential, and I have changed my exposure in BTC accordingly.
It is all Fibonacci.
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