EagleView777

BTC/USD - Analysis of the current short squeeze

EagleView777 Aggiornato   
BITFINEX:BTCUSDSHORTS   BTCUSD Shorts
A sustained, slow short squeeze seems to be going on. Short interest levels have recently been at all time high, similar to 12 April 2018, which saw a massive 1 day blitz short squeeze. But what took 1 day then - or rather just 1 hour - is now a much more drawn-out process. I think the intent of whale market participants behind the current slow squeeze is to turn the market from bear to bull.

So, I made this chart to help me monitor and analyse the current short squeeze.

Have a nice day.
Commento:
The vertical orange lines in this chart correspond to the main market turns, derived from the BTC daily price chart. So, these vertical lines are precise, not arbitrary.
Commento:
The 2018 bear market in Bitcoin seems to be turning around and the bottom now seems behind us. The short/long ratio remains very high because shorts are "in denial" about the current rally (high short interest), while BTC price is "climbing a wall of worry" (low long interest).
Trade chiuso: obiettivo raggiunto:
Today, 31 August, marks the point that short interest has returned to normal levels. So, the short squeeze effect in the market is now completely finished.
Trade attivo:
Today a new short trap is in the making. Don't short this early bull phase, it's way too dangerous.

It is all Fibonacci.
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