Bitcoin Forum

We keep seeing gigantic increase in shorts every now and then accompanied with a lot of FUD and yet they keep failing to push the price lower than the support. The last time shows the interest in shorting bitcoin is decreasing even though the drop was to the support level itself.

With price heading towards $35k and many shorters losing money over the past month we could be heading towards the end of market manipulation and this reverse bubble may finally deflate when price reaches more realistic values above $60k.

https://i.imgur.com/Mf9ZPmb.png

We will probably see another of this shorters commit suicide because they shorted the price at the wrong time. I just hope that anyone can profit out of all the situation in the prices. Also, the shorters probably didn't have in their calculations added that Elon and Dorsey's talks would make a good effect to the market.

Those massive spikes of shorts (10-20k BTC) looks like being done by single identity. When you look at a chart at low time frame (5m candles) you can see he is using some sort of algo that is dumping few btc each time frame. Each 5m candle looks almost exactly the same:

https://i.imgur.com/DeX9ZqT.png

To be honest i doubt that someone is opening a 20k BTC position using exchange that has 15 times lower volume than binance. IMO he is using this chart to convince market to do what he want it to do. For example he short BTC on binance, when his bags are full he is starting to show on finex that he is shorting to push market in the direction he wants market to go. That would justify why we see so much fud - "finex whale is shorting" articles all around the space when he opens position.

But even if this is his real position... I would not say that he is loosing "many shorters losing money over the past month". Each short is being opened at higher price and closed at lower. He is not breaking major support but he is winning each time. Most oftern he grab price close to resistance and push it below closest support where he closes shorts.

The recent good news like Tesla will accept bitcoin and Twitter commenting good about bitcoin might (but which i am not sure about) be the reason for the recent bitcoin price that is increasing. But with what I am reasoning, it is possible the price of bitcoin may not go beyond $35000, if gone beyond $35000, it will not surpass $37000. The price is still only most controlled by the day and swing traders. This is just my prediction, I can be wrong, but my prediction hardly go wrong in my analyses when it comes to price fluctuations, especially the resistant price.

Thats the thing with Crypto, we are still in the early stages and any sort of news from
high profile people connected to this space can infleuence how others react and hence
affect the markets, its things that cannot be predicted.

I would imagine a lot of people wouldnt mind to see shorters and manipulators
getting punished.

You are not sure because it is not true.
First of all nobody cares about Elon Musk and his Tesla anymore, even the shitcoin community stopped reacting to his Doge tweets. By the way this is not the first time Musk says the same thing "Tesla might accept bitcoin again" and like always market never reacts to it.

Secondly the thing about news is that it affects the market immediately, sometimes even before the news comes out. The nonsense news about Tesla is from days ago and if it were supposed to do anything to  the price it should have done it then which it didn't.

#39850

Certainly a lot of shorts in the market.

People were focusing meme stocks like GME/AMC getting a second short squeeze, yet they forgot about BTC.

The market sentiment has once again swung into bullish territory with the crypto conference on the 22nd. I don't necessarily expect BTC to breach $50k given that we are still in a downtrend based on historical timing, but the $40k resistance should falter at any time and we could build a decent support there.

I never consider going down to a certain level in one week and staying there for longer time to be a "downward trend". In fact when we see such a huge drop happen in such a short time frame and then stops dropping that is a good indication that the drop was unrealistic.

As for $50k it is not far away, see how price jumped from $3400 to $3900 in one quick move, it will be even a bigger jump when $40k is broken. In fact I wouldn't be surprised if we reached $70k in 1-2 weeks.

On another news the shorters are getting REKT

I have read in about three articles predicting the same thing on how the next recovery face will "finally deflate at $60,000". Since 2014 that I started following bitcoin pricing, one thing that I have learned is "bitcoin never followed technical analysis on the long run" it always makes a fool of it either! I read at u-today and the analyst said "bitcoin has reach the top at $34k"  this happens a day before yesterday only for us to get surprised this money of $39k and it is still Bullish as about $900m shot position has been liquidated. My only advice is keep holding and you keep making more.

This is right, people do not care about the Tesla COO tweet like before, but there are many other good news about bitcoin recently that makes the whales to woke up which makes the price of bitcoin to increase, I will really like bitcoin price to increase over $40000 now as it has attained $39000 recently, this is just a very good news I like to be reading because most of my holding are bitcoin. I was very surprised to see the price in just few minutes to have increased from $34400 to $38700 some hours back.

Yup OP but shorters don't even care what fuds trying to do with the market. And they preferred to take the risk just to make profits, well for me in my opinion if this thing keeps happening when market showing improvement, for sure it wil becomes stagnant for long time. What i mean there's no good improvement and surely most of crypto especially bitcoin will be stuck if those shorter keep dumping when there's a small progress in my opinion.

I guess this shorters are really going to try their hand in this market no matter what. Currently sitting at $38,+++ and they are hoping that they can still pull the price and not hit $40k as they might loss big money playing with this market.

Yeah, it's really surprising to see a massive jump from $34k before I sleep and then waking up at a cool $38k. Let's see these manipulators, if they can stop this spike or if we are heading to $40k again.

Nope some of them take the risk to ride with the fud hoping to  gain  with current market activity but unfortunately market is so fast moving and  it test the patience of newbies that's why we see many  people got panic and  drop all they bought in a quick time span. Maybe for now we  can see those shorter panic and dump  one  by one but for sure we can still see many of them hold and  they became lucky once dumping ends and bullrun came again.

I had no doubt for a moment that Bitcoin had reached its peak this year, despite all the negative news and attempts to lower the price to $20k. So while most are very optimistic at the moment, it should not be forgotten that there have been such jumps in the past few months - and that $40k has proven to be a very strong point of resistance.

It is only a matter of time before the price rises above that point again, although I was convinced that it would not happen until September. But stability is not something that adorns Bitcoin, if it was not possible to lower the price below $29k, with a little good news the trend reversed - so if nothing else, all those who wondered if the bull market was over got their answer.

It is looking bright for bitcoin even before your September speculation. The wonderers and speculators may not be taking out of trend before now as we all saw it dropping in our eyes . Now things started turning around from one news to another and that has broken even $36k. The bull is gradually turning up, Elon musk is such a manipulator such that his followers are just reading to dance to his tweet.

I though I update this topic with the aftermath picture of what happened. The third time was indeed the charm and the shorters truly got REKT so the price started rising up. Although the data shows that there are still some traders that remain in denial and don't want to accept that they have been going against the market trend for so long.

All that's left now is getting rid of this "reverse bubble (https://bitcointalk.org/index.php?topic=5339896.0)" by reaching $60k again. I admit that it has taken a bit longer than I expected but it is happening nonetheless.

https://i.imgur.com/IzEqEid.png

I don’t mind everyone having their own opinion, yet we’re not like Borg in some collective consciousness - but I really don’t understand all those who have persistently said in the last few months that the bull run is over and there will be no new ATH. If nothing else, at least halving has always been a good indicator to predict in which direction the market will move.

I somehow believed that the trend would change probably in September or October, but it happened a little earlier - which surprised some experts who have already prepared apocalyptic articles on how Bitcoin is on its way to $10k.

It doesn't look to me that they "truly got REKT" during this third wave.

https://i.imgur.com/xinTgCh.png

Trying to estimate average short open prise as best as I can I would say its $33500, average short close 31500-32000. So shorters earned during this short pump ~5% from 15 000BTC = 750BTC in profit. I would love to be REKTed like that :)


Its chart from bitfinex only. And this moves on your chart after third try are 100 BTC moves. This fourth try from on the 9th of August has only 500 BTC in short increase. This chart has really negligible value in any analyzes when "bitfinex whale" is not shorting.


I wish to have such chart from all exchanges not only bitfinex. Especially Binance, Bybit, Huobi, Bitmex.

Yeah, actually, you even see some of that denial in alt trading as well (don't ask me why I'm there, it's work, heh). "Bitcoin's done all it can, alts takes over from here", that kind of talk. Getting people to trade their BTC for the promised land of altseason.

And they may have made money each of these cycles in your charts. 10% here, 20% there vs BTC.

But once the reverse bubble as you say happens, the rekts happening to the alt-BTC shorters as well.

Yeah unfortunately there are way too many people like that out there, it is easy to belong to a "camp" basically, because you can be someone there as well, it is the thing that I realized in the crypto world, you become someone and that is a very important part of it. In the bitcoin world you will not be someone important, nobody will care who you are, you are not going to be a person who gets hears.

However if you end up investing early into pancakebunnybabydogeshiba.finance or whatever is the new thing these days (lol that sounds like a possibly true thing eventually) then you will be a person who gets heard in the telegram group of it, maybe the person who wrote the most message, maybe the guy with twitter influence on it, and that is kind of important. People think that everything is about the profit, but I have seen people who stuck to horrible stuff even while losing money because they were in a powerful position in it.

@pooya87. There might be a fourth time hehe. There might also be many people that might say I am antagonizing again, however, the resistance near $50k is very strong. There is also a bearish divergence. This might imply another dump before it can pump, I reckon.

https://i.ibb.co/zFkDkLw/F60-AD70-B-F9-DB-4978-9-BB6-CC618-C120-B1-D.jpg

I've been following these BTCUSDSHORTS for a while and I am still puzzled to this day why they opened and closed them a few days later. Was it an actual short and not some delta neural move ( short on one exchange and long on another)? Hard to tell.

Did they make money, looks like they did however very little in terms of %'s. Seemed very risky to open such a big short on a medium type of exchange (in terms of volume) and get short squeezed badly.

Its possible that they did this to get media exposure and get many traders to follow their lead and short and they had longs open on another exchanges. So they just wanted to create liquidity and get their longs filled. Looks like there were huge dumps shortly after which were filled pretty quick and price rebounded.

This wasn't all about making profit, although many of them did indeed lose a lot of money in each of these spikes. This was all about pushing the price below $30k and crashing the market further as panic sells follow.
Also as the charts show all the drops are mainly happening because the "borrowed bitcoins" are being dumped on the market not because it is naturally going down. So this was a failed attempt where they wasted nearly 3 months and millions of dollars without any results.

It all depends on how US reacts today I guess when us Asians close down and they take over,,, take profits easy a 47.5? Or buy in more in wait for the reverse to happen and 50k onwards?

The best thing about the dumps now is they are not even 5% losses at the time being, which is totally incredible if you think about it:)

@leea-1334. I reckon if the downward volatility is beginning to give you a bad day, you should reduce your position hehe. However, what do you do to those profits if the market remains a bull market? If reinvesting I would suggest look into the projects in the Solana ecosystem. They presently appear to be having the strongest pumps.

There are always a ton of shitcoins that are getting big pumps every day. That has been the altcoin market trend for as long as it has existed. The pumping [scam] groups don't just sit around waiting for some big shitcoin to go up, they go around and select these shitcoins at random every day and pump the hell out of them then take their money and move to the next shitcoin by dumping the old one.

I don't think its the pumping groups which are pumping alts like SOL or AXS or SAND. Those coins have large market caps and I just don't think they got enough capital (even with leverage) to be able to pump an altcoin like that. Those groups they generally pump some really dead low volume altcoins. Traders see that it went up 100% in 24 hours and they go chasing it, however thats usually when the pump groups get out.

I think when these coins get pumped its usually some large whales behind the moves. Sometimes they got some insider knowledge that is reviled a few days later and you can clearly see that it got leaked. However its crypto so most likely no regulation into that. So thats when the retail people buy the alt coin and thats when it starts to drop all of a sudden.

I am never a trader, my position is always to add,,, and in the sense that dips happen I enjoy them which is why I do not want to see markets go up too fast, because then I do not have enough time to add to my holding haha.

Solana? I will pass thank you:) Show me 10 users and I change my mind:P

I reckon similar to the word scam, the word shitcoin is used very lightly on some altcoins that are arguably not shitcoins. I would agree depending on which of the altcoins you would call shitcoins, however.

@leea-1334. I speculate Solana will be the next big smart contract platform after Ethereum and Binance smartchain. It is supported by Sam Bankman-Fried, CEO of FTX, the Binance exchange killer hehehe.

That's true but I was mostly talking about the profit part, meaning if you want to make quick profit from trading altcoins there are dozens of them being selected every day to see massive pumps. There is no need to sit on some arbitrary shitcoin hoping for the big rise.

The only reason why ETH got big was because it suddenly provided an easy way for scammers to create garbage and sell it for millions. This is not something that can be repeated which is why all the subsequent smart contract platforms couldn't become big even those that don't have the fundamental flaws of shitherium.
Binance coin is also hyped because there is a multi million company pumping it and creating incentive for the users to buy this centralized altcoin.

... in any case we are now going off-topic :P

@pooya87. This might be another argument for another dump that will be traded by shorters. The volume is declining which I speculate this pump might only be a manipulated move by shorters to prepare bitcoin for another dump. This is only my speculation, I am not antagonizing.

https://i.ibb.co/sbmVJTT/BF78752-A-0-C86-4-CF4-82-C3-ECFED7-B3-FC36.jpg

In any case, on your comment about Ethereum, Binance or Solana, I reckon it is very arguable if you say it only got big because of scams. Scam is a word that is very lightly used in the cryptospace by maximalists when they describe coins that is not bitcoin. Some of the projects might be scams, however, the technological development is not a scam. They might be misunderstood.

I don't like using volume as an indicator, it is always wrong in my experience.
In any case the drop already happened during the past couple of days trapping the bears who refused to change their stance. Going back to $47k is a good sign that the upward momentum is still very strong.
I also don't see any big spikes in number of shorts to indicate shorters are preparing for anything. I think they lost enough to be discouraged to do so.

Could you show me some "tokens" that "developed" any "technology"?!!!

Big effects will happen if they don't stop this greed, it will affect the state of bitcoin, the market and the condition of any altcoin, although for bitcoin it doesn't have much or big effect.

I'm still wondering at this time, is it true that Elon Musk and Dorsey's big influence can make certain crypto or coins go up or down, at this time I don't have a definite answer, even many people say it's just based on their own thoughts.

I reckon similar to how bitcoin has developed a concept of money created and issued without the regulators’ permission, the concept of Defi currency coversions and store of value concepts on NFT might be new technological developments that can be positive.

In any case, we are off topic.