/biz/ - Business & Finance

>>53304844
>shorts going down
Bearish.

>>53304855
yes it is, u fucking newfag.

>>53304863
>implying i implied it wasn't bearish

>>53304844
SELL, SELL FOR YOUR LIVES

>>53304863
nigger detected

>>53304844
I am newfag. So what does this mean? Enough Bobos got liquidated that there's nothing left to gain with these scamwicks. And so that just leaves....?

>>53305031
When there's a lot of active shorts then the price is unlikely to dump. When most people stop shorting (the "btcusd shorts" goes down), that's when the price usually dumps. Because the majority is always wrong. A minority shorts at the right moment.

The same is of course the case regarding longs and the price going up.

>>53305103
Thank you.

>>53305031
It means a massive portion of that pump was just shorts getting liquidated or stop-losses getting hit from margin traders. It's bearish as fuck, because the price action was just moved by futures and didn't represent an actual accumulation of spot crypto bags.

Compare that to the open long positions, and there are currently exponentially more retail leverage traders chasing this pump. it doesn't necessarily have to happen, but if it does, you could see the exact same liquidation domino effect happen to the downside.

>>53305189
Yeah, I did look at that next. Disturbing shit.
It's been up and crabbing for a long time. Is that a result of people thinking we had bottomed in June?

>>53305189
it means you're gay and wrong. draw some pink lines to complete the trifecta

>>53304844
what do i type to get this chart

>>53305301
btcusdshorts
but it'll be data from one stinky exchange

>>53305247
>Is that a result of people thinking we had bottomed in June?
Yes, and the dip from 18k - 15.5k was not enough to liquidate a majority of those positions which were opened in june, or people getting stopped out merely re-opened their position

sell now

bros what the FUCK

>>53306674
Also this

the last time the btcusdshorts were this low was in early April 2022
check what happened to the btc price then -- it hyper giga dumped from ~45k to ~26k, crabbed and then dumped to 17.5k

>>53305189
>>53305031
>>53304855
>1x shorts vs leveraged longs to hedge downside and volatility
>1x shorts decrease
>leveraged longs remain the same

>>53306883

>>53306883
45 to 26 is a 42% dump.
26 to 17.5 is a 33% dump.

A 42% dump from here takes the price to 12k.
33% dump after that would take the price to 8k.

This matches with the majority of /biz/'s bears prediction (since over 60k) of the bottom being 8k-10k and matches with the Binance "error" wick down to 8k, which was likely a signal to whales where the bottom will be.

>>53306950
And that would be about 87-88% from the top, so perfectly reasonable.

>>53306980
>>53306950

>>53306980
It isn't reasonable. Last bullruns had blowoff tops to justify severe crashes like this. The last bottom had this hit 2018 lows when taking diminishing returns into account

>>53307007
This may come as a shock to you but each bullrun is weaker than the previous and BTC x's less each time and there aren't and won't be any "blowoff" style tops on BTCUSD anymore. BTC isn't going upwards in a straight line. It curves downwards. Bitcoin's self-established logcurve is curved, not a straight line. And now candles are growing under the curve. For the first time in Bitcoin's history. So yes, considering the curving nature of Bitcoin's price action over time and taking the reality of the situation into account, an over 85% fall from the top is absolutely reasonable and completely expected.

>>53307110
Retard. It's why I said the words "diminishing returns". Diminishing upside means diminishing downside too

>>53307266
>Diminishing upside means diminishing downside too
oh sweet summer child

>>53305031
honestly it means its gonna get choppy if it all came crashing down everyone would just jump into shorts again the market has to be unpredictable for traders to make money

>>53307110
>This may come as a shock to you but each bullrun is weaker than the previous
?

>>53307110
You're certifiably retarded

>>53307544
observed

I wonder what happened in apri- oh shit

>>53308027
>I wonder what happened in apri- oh shit
Hitler's birthday?

>>53305189
>price action was just moved by futures and didn't represent an actual accumulation of spot crypto bags.
Cope bobos, whole Aug-Nov '21 was lever driven with no new money. Smart spot got filled at 20k and later in 16k. Retards who short lows get rekt same as those who long highs. Everyone sidelined on spot is waiting for dip to enter, but no one dares to make that dip cuz shorts are scared of being liquidated. If you think this is bearish then I bet you sell when rsi is going up and buy when rsi is going down
This >>53306929

>>53309834
So you are saying sell when the RSI is low?
And buy when it is high?
kek retard

>>53307110
we just need the biggest bull market ever then next halving to break this line upwards then what, SLUT

>>53304844
kek, As long as I can still send money without any government intrusion, I'm good with whatever trend it is.