TA Post: Short Squeeze is Begining

[Anonymous No.10706282]

You can see it in the chart. Shorts have already ticked down and the price is going up. I circled the last time this happened so clearly and we can expect that big green dildo within 6-12 hours as these shorts close organically. Eventually we hit the tipping point and the squeeze will be on for real.

[Anonymous No.10706340]

>>10706282
It may even be a lot sooner than 6 to 12H because as we get to a lower timeframe we see the conditions as low as 2h. I can't really fit both time frames easily into the 1h chart butit seems we are getting really close to this thing going boom.

[Anonymous No.10706411]

So, I'm retarded. What exactly would this all mean, then, in the short and long term sense? If you don't mind me asking that is.

[Anonymous No.10706465]

>>10706411
People in short positions are OBLIGATED to buy the asset back. If the price goes up too much the exchange forces them to close their position by buying the asset. This is called having your position "liquidated." You can also have an order in to close your short position if the price gets to high.

Either one of those conditions results in short sellers becoming buyers. The more people that buy an asset, the more it goes up in price. We are knocking on 6600, so it is very liky, since that is a nice round number, there are a lot of shorts around here, or people looking to go long using a stop buy order (it stops you from buying at a higher price).

We are at a rare position where the shorts are higher than the longs. The short candles are acting exactly how they acted before we pumped in April. Everyone should be prepared for the price to jump and the shorts to gap down.

WITHIN HOURS.

[Anonymous No.10706466]

>>10706411
Shorts will be forced to cover, raise price of btc and likely result in a cascade of shorts getting liq'd. Basically a fast, violent price rise.

Do not treat it as a trend reversal as it could just as quickly get cucked again - in fact it probably will.

[Anonymous No.10706553]

>>10706466
Even if we die at the falling log resistance we have over 15% gains to be made with no leverage. If we get up there without hidden bearish divergence we should have normal retracement and break through.

[Anonymous No.10706588]

>>10706282
this seems too obvious but I can't think of anything else. I am thinking a huge green spike followed by a massive breakdown below $6k soon after. At the same time tho longs are decreasing as the price goes up, making me think people are buying with the intention of holding. What do you make of longs decreasing? I doubt people are closing them this early

[Anonymous No.10706600]

>>10706588
also didnt 18k BTC get sent to bitmex recently? Whats that guy gonna do?

[Anonymous No.10706616]

Thanks for sharing! Do you think we go over 7000 before breaking down?

[Anonymous No.10706637]

>>10706600
He gonna LONG and get SNIPED.

[Anonymous No.10706659]

>>10706600
100x leverage pamp.

.
.
.
Then dump it all.

[Anonymous No.10706673]

[Anonymous No.10706717]

>>10706616
Who the hell knows. It depends if we get to a top with hidden bearish divergence compared to the last top.

>>10706600
He is going to use his coins as equity to fund his leveraged long.

[Anonymous No.10706804]

>>10706465

>>10706466
Thanks! So basically, means that most likely this is just a spike due to shorters trying to finish up their positions. And that if you want to take advantage of it, you'd have to be willing to go in and out of the market within hours, or wait it out until the decline kicks back in? At least in theory I mean

[Anonymous No.10706883]

>>10706282
I really like these posts OP, keep it up. This is like the first useful thing I've seen on biz in weeks.

I appreciate you trying to start conversation without getting cocky and making "predictions".

[Anonymous No.10707022]

>>10706804
I would not be betting on a decline until we hit the resistance I mentioned here. You may not even have hours to act if you want the initial impulse. The uptrend it creates should last over a week or two and if we break resistance then we are in bull run territory. >>10706553

>>10706883
I am predicting $58k EOY.

[Anonymous No.10707076]

I was aiming for 6800 but it's going so well I'm considering getting greedier.

[Anonymous No.10707106]

>>10707076
DO IT NOW. PLEASE TELL ME YOU ARE GOING TO DO A $1M MARKET ORDER AND BLOW THE BEARFAGS OUT

[Anonymous No.10707242]

>>10707106
I'm kind of a bearfag myself is the problem. And I'm not sure where they have their stops because I would have expected more people to have given up by now.

[Anonymous No.10707328]

>>10707242
90% of people lose money trading. I still need to break even myself and this should go a long way to helping me

Put your buy stop at 6666.

[Anonymous No.10707693]

>>10706553
Where will we end up in the short term?

[Anonymous No.10707727]

>short squeeze
yeah! bear get justed!

[Anonymous No.10707758]

short squeeze ended. this is going 5800 again.

[Anonymous No.10707759]

My short was stopped out at 6640$ (7$ below the top!). Now I'm loading up on longs.
Am I actually stupid?

[Anonymous No.10707877]

>>10706588
>I am thinking a huge green spike followed by a massive breakdown below $6k soon after
bear euphoria is real. bull market confirmed

[Anonymous No.10707918]

Do not listen to fucking /biz/ about charts. If you are gonna long right now you are risking getting liquidated. You should have longed after the 5800 dump, moved to a short position down this pump from the top. 90% of this board is on bitfinex or bitmex leverage trading and shilled you alts before it shit tanked and stole your money. BTC is king even if it drops people are making more and more BTC shorting the farm. I'm sorry most people on this board got pajeeted by projects like ELEC and ETC. Most people are relying on dumb money and bragging about their portfolio after they scam you. TLDR; fuck this board.

[Anonymous No.10707963]

>>10707918
Most of my sentiment comes from the fact that most people longing right will not be able to close their positions in time. Not that longing is bad, but longing here is fucking retarded. Use good leverage (not fucking 25x or 50x) and DCA; or even just wait until we see a better entry point.

[Anonymous No.10708004]

>>10707758
>short squeeze ended
>shorts still around ath

son, are you retarded

[Anonymous No.10708068]

>>10706282
Longs are currently at an all time low. Tge ladt time shorts were at an all time high longs were also at an all time high.

[Anonymous No.10708170]

>>10707918
People are more willing to discuss price action which is a huge improvement from
> It works 50% of the time

We just gamblers and speculators chatting, not trying to copy anyone.

[Anonymous No.10708255]

>>10707918
tfw caught the wick at 5860 by eating up liquidations only to get stopped out at breakeven

[Anonymous No.10708359]

>>10706282
babbys first leverage run, barely made it out with profits before it all got rekt.
wondering how cboe settlement will end

[Anonymous No.10708370]

>>10707106
>PLEASE TELL ME YOU ARE GOING TO DO A $1M MARKET ORDER AND BLOW THE BEARFAGS OUT
Are you joking? Billions of dollars are traded every day on Mex. A "1M MARKET ORDER" wouldn't move the price of bitcoin by a dollar.

[Anonymous No.10708477]

>>10708359
How will it end? Massive jump in price? Surely that will break resistance and start upwards movement

[Anonymous No.10708867]

Lol, it’s dumping already. Retards.

[Anonymous No.10709245]

usefull post more technical analysis less fundamentals.

[Anonymous No.10709258]

usefull post more technical analysis less fundamentals.
Agree - we going up

[Anonymous No.10709276]

Price resting on POC support (point of control) at $6315... heavy support.

[Anonymous No.10709309]

>>10709258
>>10709276

[Anonymous No.10709313]

Flat now, waiting to see where the daily closes.