[2016-03-28] Bitcoin Price Analysis — Bullish momentum at last

[secone]

Market Sentiment

This section is based on internal (anonymized) Whaleclub trading data and is published exclusively on BNC.

Current Active Long vs Short Volume Ratio: 0.82:1

Average Active Long vs Short Volume Ratio: 1.9:1

We have a 20% excess in active short volume relative to the average. The average weighted short entry price is $417.7, which is much lower than the current market price - this means that on average, active shorts are very much underwater. This is a significant revelation: these underwater shorts can help fuel a strong short squeeze and propel price upwards.

Sentiment is bullish like last week - but the underlying data has evolved. Large amounts of longs have closed as they banked on Sunday’s $10 price pump. If price breaks up above the key $435 trendline, which has held strong, and bears keep expecting a price dump and opening short positions, then we may see a broader short squeeze.


http://bravenewcoin.com/news/bitcoin-price-analysis-bullish-momentum-at-last/

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[SebastianJu]

Market Sentiment

This section is based on internal (anonymized) Whaleclub trading data and is published exclusively on BNC.

Current Active Long vs Short Volume Ratio: 0.82:1

Average Active Long vs Short Volume Ratio: 1.9:1

We have a 20% excess in active short volume relative to the average. The average weighted short entry price is $417.7, which is much lower than the current market price - this means that on average, active shorts are very much underwater. This is a significant revelation: these underwater shorts can help fuel a strong short squeeze and propel price upwards.

Sentiment is bullish like last week - but the underlying data has evolved. Large amounts of longs have closed as they banked on Sunday’s $10 price pump. If price breaks up above the key $435 trendline, which has held strong, and bears keep expecting a price dump and opening short positions, then we may see a broader short squeeze.


http://bravenewcoin.com/news/bitcoin-price-analysis-bullish-momentum-at-last/

Or those holding shorts will try to manipulate the price down to the level they could profit with their shorts.

I'm not sure how such situations worked out in the past. But it's interesting to hear that opinion.