Short

Even a broken grandfather clock is right twice a day..

Volume has dropped off considerably in the past few days. Lending rates have decreased, and yet the big margin shorts aren't taking the bait; they have been burned and squeezed too many times, and they have largely exited the market for now. The expected weekend rally has failed to materialize, and With this low volume and virtually nobody left for the trolls to squeeze and force buybacks, this apparent stability will find some violent selloffs in the next few days moving towards the 16th of September. Retrace to 0.01 - 0.011 with a bounce to 0.015 - 0.016 on higher volume. Let's face it, it's going to be time soon to shake out these long term margin long positions with obvious stops below 0.0185 and leading to the aforementioned target. That said, some scalping on the 30 minute chart should be relatively easy as the trolls continue to attempt to use their margin to squeeze the soon to be non-existent shorts, as this next selloff will be the real deal.

Good luck.

Concave

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.