Bitcoin continues to show signs of strength.
The Short positions at Bitfinex are now higher than those that preceded the breakout which took us from 4-5k
The Long positions at Bitfinex are now the same as those that preceded the breakout which took us from 4-5k
Bitcoin continues to grind up, without sign of there being any leveraged positions being taken up which implies to me that there is aggressive spot buying in this market, which those shorting it cannot stop.
This leads us to a senario where there will be short positions heavily exposed - aound 6k shorts are underwater and at risk of being liquidated.
BULLISH.
Drop this a like if you want to support this work and you can find me on twitter with the same handle for additional content.
The Short positions at Bitfinex are now higher than those that preceded the breakout which took us from 4-5k
The Long positions at Bitfinex are now the same as those that preceded the breakout which took us from 4-5k
Bitcoin continues to grind up, without sign of there being any leveraged positions being taken up which implies to me that there is aggressive spot buying in this market, which those shorting it cannot stop.
This leads us to a senario where there will be short positions heavily exposed - aound 6k shorts are underwater and at risk of being liquidated.
BULLISH.
Drop this a like if you want to support this work and you can find me on twitter with the same handle for additional content.
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Updated... nice move over night... the bears keep coming.. RIP.
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All 6k shorts would need to go to take us back to the 17k.. thats a huge amount of load to the buy side..
This + fomo is a sweet sweet position.
Big move.