short/longs bitfinex and the #REKT game

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Shorts/LONGS ratio is above 1 after a long time. What does it mean? I don't know. From the plot we can see that last time we were above 1 btc was going up big time. Now it seems we are on the edge of a bear market. Can we apply the same logic?

Bulls are tired, too much rekt people going long lately...
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in leverage market most people sadly get rekt! The majority is now on the short side, so I think we will see a squeeze soon (moving the ratio to 1).
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there it is, what a freaking squeeze!
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Beyond Technical Analysis

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