BTCUSD: And even more bad news for bears!

Hello my friends!

It was the largest percentage increase of shorts ever. Btw I would never short BTC after a 50/60% move down. The risk reward is way too high.

You all know for example from gamestop what a short squeese can do and how the price bounces. In the last two weeks, the shorts have risen by about 2300%. For comparison, at the last strong drop in march 2020, the increase was only 300%. So for me, this means that a large number of shorts will be closed. When the price was at 60k, the shorts were down. Now at 35k, a lot of people are getting in. Not understandable for me. I estimate for most shorts the stop areas will be at around 40/42k. Therefore I expect a pump to liquidating the shorts. And the smart money might get some $ soon. Lets see.


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Let's see what happens.
Happy trading. :-)

BTCINVESTING


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My 2. Post "Another bad news for bears!" Jun 7, 2021

My 1. Post "Bad news for bears!" May 31, 2021

My Post Apr 18, 2021

My Post Nov 19, 2020

My Post Apr 15, 2019 (2 year ago!). I was one of the first btw. ;-)

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Kommentar:

maybe a nice breakout. lets see if its strong enough.

Kommentar:

Updated chart: Look what is actually happening. The shorts dropped by over 80% in 4 days.

Kommentar:

$ 111,000,000 of shorts liquidated in 10 minutes, yesterday.