Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Opis
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Right now alts are like kites drifting in the wind, following Bitcoin. Unfortunately, Bitcoin Cash is asleep as well, so here we are. Focusing on the main event.
So, you've been told $8,000 is coming and suddenly after much reluctance and many failed longs, $10,000 has come and gone twice and five figures remains.
There is much danger in this market. Things are no longer strong. That means the largest operators are sitting short, and you can think about what that means for yourself.
Nothing goes down in a straight line, as they say, nor do whales make things easy.
On the way up, they hurt both shorts and longs.
Why not on the way down, too?
In any event I think it's going to bounce for lots of different reasons, mostly because people capitulated and shorted at $10,000-$10,500 and are now trapped.
Fomo will be triggered, short sellers will provide rocket fuel.
Long: $10,600~ Target: $12,450 Stop: $10,200
RR: 4.68
== Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
interesting, I've been thinking the same thing. It never does what everyone is saying it will do.
investing_alt
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I agree I think its too obvious a short to 8k
cycler
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@altinvesting, sorry bro, not many people are shorting from what I can see.
SammyNoden
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@cycler, Interesting. Where do you think all the downward pressure on prices is coming from?
cycler
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@SammyNoden, 24th, chines new year sellers, 26th, futures expiry, 30th, korean crypto changes. at some point we will see explosive growth, the volume of buyers is already large. low prices will be hard because whales are buying up already. no panic sellers, just people who want to sell.
As much as I hate to say it...never doubt the Tether printer...
Btckk89
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@ttqkce, it's like using editor mode to put your sports club in the red to being extremely profitable.
cycler
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there are 22000 margin longs vs 9000 margin shorts, so liquidating the margin shorts is the more profitable thing to do. not ruling out a bounce to 12000, but i expect 8000 still, with no bounce, mind any buy under 10500 is great!