Bitcoin was not able to hold above it's long term bearish channel. We watched a bear squeeze and it was fun actually. Now it is time to squeeze those FOMO bulls. Open your shorts above 7800$ and enjoy your ride my dear bears. Have a nice weekend. Trade SAFE!
The market is a side-ways market with a bear trend. The Whales make their money during these times and they last for months because the retailer is greedy for the wild PUMPS of the previous bull run at the end of the year.
Whales make their money from being unpredictable in sideways movements. They blow the little fishies out of the water and open their whale-mouths to let them all land inside.
What we saw the other day was the retailer getting bored with low volatility and so they finally decide to find out how to short Bitcoin with leverage. Now they got liquidated.
I do not doubt more short-squeezes though.. even up to the 9k's.. So, just be careful and don't go all in. For me, I am a gambler... I am all-in short. $$
mightytrader
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Also: Whales can PUMP Bitcoin back to 15k at anytime. It's not hard. They have money AND connections.
orthocrypto
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@mightytrader, Of course i am careful and not a gambler just a trader. There is a game plan whales keep up with and we are just trying to figure it out, if we are lucky enough we can move with them. This situation applies in every market, there are market makers and if little fishes can not figure out the plan and act with their emotions they eventually lose. So, i wish you entered your short at a good price, good luck dude.
Asma7assan
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@mightytrader, but you bears got liquidated with this massive 1k jump we had yesterday! isnt it that risky to go all in shorts?
mightytrader
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@AsmaHassan, I am a gambler. I trade Bitcoin with lots of leverage for the high. I love being right when I am. :)
@AsmaHassan, my last short entry was at 7400$ with a liq price at 9100$. So, it is hard to squeeze me dude. Also, when the bitcoin price went down to 6800 i set up a stop at 7350. As i always said, Trade SAFE.
Asma7assan
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@orthocrypto, okay so you still hold a short position? you havent closed that yet?
Asma7assan
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open shorts to what target do you suppose?
orthocrypto
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@AsmaHassan, $6200 is the first target as i showed in the chart.
Whales make their money from being unpredictable in sideways movements. They blow the little fishies out of the water and open their whale-mouths to let them all land inside.
What we saw the other day was the retailer getting bored with low volatility and so they finally decide to find out how to short Bitcoin with leverage. Now they got liquidated.
I do not doubt more short-squeezes though.. even up to the 9k's.. So, just be careful and don't go all in. For me, I am a gambler... I am all-in short. $$