Last time number of BTCUSD shorts was this high...
Could this be the perfect short squeeze storm?
1. We are at a major support
2. BTCUSDSHORTS are almost at a record high, last time they were this high was around 10th April, after which we saw a massive short squeeze
3. Tightly hugging the underside of downtrend line meaning there isn't much distance to go to break through.
If we get enough of a breakout, there is gonna be a lot of easy short prey about!
Is this a point where institutional buyers are happy to enter in the long term and start liquidating shorts for their own gain? Doesn't seem to be much gain left on the short side for the big money.
1. We are at a major support
2. BTCUSDSHORTS are almost at a record high, last time they were this high was around 10th April, after which we saw a massive short squeeze
3. Tightly hugging the underside of downtrend line meaning there isn't much distance to go to break through.
If we get enough of a breakout, there is gonna be a lot of easy short prey about!
Is this a point where institutional buyers are happy to enter in the long term and start liquidating shorts for their own gain? Doesn't seem to be much gain left on the short side for the big money.
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