No more "Short Squeeze".. Because Bitmex Funding rate is > 0
Updated
For people who still think there will be short squeeze soon ( 21 Aug 2018 ) and the price will jump skyrocket like in April 2018, think again.
They already tried to do short squeeze when bitfinex short position was around 36k a few days back but the bull can only pump the price to around 6630$ and then slam down hard.
I think the better indicator to look for the short squeeze possibility is Bitmex Funding Rate.
Because when funding rate is < 0 ==> it's mean people hold short position more than long position.
The far from 0 down, the more of short positions accumulated. ( You can check rate history here coinfarm.online/rank/funding.asp )
And right now, the rate is > 0 and will be 0.01% soon... it's mean that short and long are almost equal. So no more stupid bears will get Rekt in the near future....
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I think a lot of weak hand people, noobies or gamblers already got rekt at Bitmex and those people are out of the market ( no money! )
Right now, only some strong and ( a bit ) smart trader left, and no more stupid 50x-100x at the resistant zone so no more Rekt chain reaction....
They already tried to do short squeeze when bitfinex short position was around 36k a few days back but the bull can only pump the price to around 6630$ and then slam down hard.
I think the better indicator to look for the short squeeze possibility is Bitmex Funding Rate.
Because when funding rate is < 0 ==> it's mean people hold short position more than long position.
The far from 0 down, the more of short positions accumulated. ( You can check rate history here coinfarm.online/rank/funding.asp )
And right now, the rate is > 0 and will be 0.01% soon... it's mean that short and long are almost equal. So no more stupid bears will get Rekt in the near future....
==================
I think a lot of weak hand people, noobies or gamblers already got rekt at Bitmex and those people are out of the market ( no money! )
Right now, only some strong and ( a bit ) smart trader left, and no more stupid 50x-100x at the resistant zone so no more Rekt chain reaction....
Note
I just recalled why April 2018 Short Squeeze happened(1) There was an analysis from some famous paid VIP group that the price will break below 6000 and rally to 4000, so members should short to make big profit.
(2) A lot of people spread this analysis to their secret/private/public groups and most of them followed ( massive short )
(3) So, the short position is accumulate around 6800-7000 ( You can see the vol on Apr 9, 2018, very massive compare to the candle size )
(4) Two day later, on Apr 12,2018. After 2 candles do HH, HL and the price reach the chain reaction point ( 6900 ) and very big position got liquidated at Bitmex ( I remembered that there was a lot of 10m USD short positions got liquidated )
(5) Price skyrocket 1000$ from 6800 to 8000 in very few minutes. ( I remembered that feeling, having dinner with family and WTF! )
So... this Aug 2018 is different.
(1) A lot of people believe 6000 is a bottom, because it tested so many times and not break out.
(2) They will put buy order at 5800-6000 anyway if price goes down to that level.
(3) Also, bears will place a lot of big short order at 6800 because it's super resistant price.
*IF* Price can reach 6800 and coming down, the very big Head and shoulders in day timeframe will completed.. and it will be very ugly for Bitcoin and altcoin. ( Because this time, it will break 5800 and down to hell )
I think bears and bulls will try their best to protect this range. But ETF Rejection/postpone next month could trigger the big short and it will break 5800 support price for sure.
Note
So, the bull took the chance when Bitmex maintenance at 8:00 GMT+7 Aug 22, to pump the price from 6460 to 6800 in 1 min. And this will complete the super big Head & Shoulders in Day TF.
Some shorts are folded, Longs start to build up.
Actually this is not a short squeeze ( The old one pump from 6800 to 8000 remember? )
It's just a game that bull took the chance when Bitmex went offline,
but yes, when Bitmex open up, no more short squeeze to 8000 and bears are starting to short again.
Note
See, it's just a big f..ing trap!Now the Bears and Bulls are equal, both got Rekt at Bitmex...
Short Liquidation = 102m USD
Long Liquidation = 76m USD
Oh well, some bull are smart hahahaha
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