Danger: Short Squeeze Imminent

[atrocityx]

Shorts are really stacking up as you can see below:



Shorts have really been stacking in and they have not been able to move the price... and just yesterday about 6000 BTC went short and are sitting in no profit/loss positions.  A push up into the 6600-6800 stops range could start a dramatic short squeeze.  The manipulation of this may pair with upcoming FUD with the Proshares Bitcoin ETF getting denied on Thursday (if it does) which I think will lead people into a fake 6k breakdown that ends up in an epic short squeeze popping all the shorts stop losses/liquidation....but the pressure is boiling over.   

This is not a time to be capitulating by going short on margin, especially if its pushed towards 6k... you are absolutely playing with fire... just a heads up, not financial advice.  Whatever you do keep it rational... no more than 2-10X.

Let the battle begin, good luck bears and bulls alike!

[leonix007]

  Whatever you do keep it rational... no more than 2-10X.

Or set your risk management, as Always

its a way more safer and adds confidence

set your stop limits

Sure thing this ETF news will give a D*mn something

[atrocityx]

Still didn't get any shorts yet.. this is how dire this is becoming.. almost 0 shorts closed... BitMex is also down, so who knows what will happen from that as well

[ncn1992vn]

I think it will be in a position to 6500 in a short period of time.
It will then increase gradually up the 6800 and start waiting for the news from Bitcoin ETF

[atrocityx]

I think it will be in a position to 6500 in a short period of time.
It will then increase gradually up the 6800 and start waiting for the news from Bitcoin ETF

Seems like a good call.. I think we can see one more short based off of failed etf news on thursday and then we will see a mega short squeeze.. we will see though, thank you for your input.

[hase0278]

Sure thing this ETF news will give a D*mn something

For now, I'd say expect the unexpected if ever the upcoming ETF has been approved. If not, then I suggest everyone do their usual and not get to worked up about what will happen in the next coming days. IMO, the price movements that we will see on Thursday or Friday is not that significant since it will recover anyway if we will see a mega short squeeze unless ETF has been approved.

[marginal]

In my opinion short term trade is the only option right now when the market is in so drastically bad condition. Long-term the case when the market will go up but not for now.

[BTCLovingDude]

Sure thing this ETF news will give a D*mn something

For now, I'd say expect the unexpected if ever the upcoming ETF has been approved. If not, then I suggest everyone do their usual and not get to worked up about what will happen in the next coming days. IMO, the price movements that we will see on Thursday or Friday is not that significant since it will recover anyway if we will see a mega short squeeze unless ETF has been approved.

this is just bitcoin going back up because it is very underpriced. people think it is because of ETF news and a lot of other things which is why they FOMO buy and then when they reject ETFs they panic sell.
for the time being we are on the rise and placing any kind of short is not a good idea in my opinion.

[1Referee]

I find it quite funny how the term short squeeze started to really pick up in the last few weeks, and that while the majority of the people still don't even know what it means.

Currently people are desperately hoping for a short squeeze to lift the market, while they completely discard the fact that when so many people are waiting for it to happen, it becomes less likely to actually happen. It applies to the bull run speculation as well, people don't understand that unjustified bullish sentiment during a bear market works against the market.

Too bad we have so many shitty events to go through still, and this will only increase people's false hopes. Let the SEC just cut the nonsense and reject every open proposal and no longer allow new ones to come in, but that's just wishful thinking. I want to see the market bottom out properly, but it doesn't have any chances to do so with this nonsense.

[miner49er1]

Nothing would make me happier than a huge bull run and shorts getting left at margin call to suffer. They really are a downer! We gotta break 7200 today!  Where are we with ETF's, Ive been too busy to stay informed...

[bob123]

Let the SEC just cut the nonsense and reject every open proposal and no longer allow new ones to come in, but that's just wishful thinking.

While this might be nice to have in terms of the attitude that governmental approvals have never been expected to happen and that bitcoin does not need any 'official' approvals, it probably would harm the market a lot.

Unfortunately the majority of people invested into bitcoin are only looking to make fast gains.
They support each proposal which could bring new investors (or better: their money) into the market. And they sell the very first moment some news against new money flowing in are published.


In my opinion bitcoin doesn't need any approvals at all. Bitcoin shouldn't be used as a mean of high speculative investments at all.
I'd favor bitcoin being used as a currency and means of payment. Rising in dollar-value through adoption and technological performance, not because of rich people playing a game to get even more rich. But unfortunately this is not the case.

[GalahadSeika]

Yes, bitcoin right now is very unstable and probably by it, you can have some short trades out of it. It's a great chance right now to do so.

[1Referee]

I'd favor bitcoin being used as a currency and means of payment.

That's the main goal, but in a way we should be happy that people aren't yet using Bitcoin as currency on a larger scale. It would only make Bitcoin less usable because it would expose its main weakness, which is that 1MB blocks just aren't enough. Even full Segwit utilization wouldn't change much in that regard.

The lack of actual usage as currency gives Bitcoin the time to have LN mature as time goes by, and when people finally think it's time to use Bitcoin as currency, there is LN to provide them the best possible currency experience. In other words, the speculative aspect of this market is what helps Bitcoin buy enough time to grow out to become a monster currency later on.

[atrocityx]

The Proshares ETF was denied.. so the first part came true (which everyone knew)  lets see what happens from here... shorts couldn't even get a drop past this 6300-6500 zone....little less pressure now that the bitmex outage rekt alot of people yesterday.

[atrocityx]

I find it quite funny how the term short squeeze started to really pick up in the last few weeks, and that while the majority of the people still don't even know what it means.

Currently people are desperately hoping for a short squeeze to lift the market, while they completely discard the fact that when so many people are waiting for it to happen, it becomes less likely to actually happen. It applies to the bull run speculation as well, people don't understand that unjustified bullish sentiment during a bear market works against the market.

Too bad we have so many shitty events to go through still, and this will only increase people's false hopes. Let the SEC just cut the nonsense and reject every open proposal and no longer allow new ones to come in, but that's just wishful thinking. I want to see the market bottom out properly, but it doesn't have any chances to do so with this nonsense.

I agree in the long term, its just a warning for the immediate future since the market is ripe for people to try to capitulate way too late. It's always been vaneck etf or nothing.. there's no way they would allow a bitcoin etf without actually holding bitcoin or purchased directly from exchange or without insurance.   I think a lot of people are convinced that we are heading to 3-4k and I just don't see it.. I could see a lot of people buying into a short if we drop below 6k in anticipation but I think its a poor move.  We'll see though.. anything can happen with such large players on bitfinex playing on margin.  As far as short squeeze term goes, I have been seeing it a lot more often lately.. whether that is something people understand or if they're just emulating others is hard to really know.  None of these little moves have much to do with the longview of bitcoin and should only be really focused on if you're playing in this dangerous zone leveraged.

For anyone not familiar with these terms and charts:

Basic information on a short squeeze:
https://www.investopedia.com/terms/s/shortsqueeze.asp

Tradingview charts for Bitfinex BTCUSD LONGS/SHORTS:
https://www.tradingview.com/symbols/BTCUSDSHORTS/
https://www.tradingview.com/symbols/BTCUSDLONGS/

[BitHodler]

In my opinion short term trade is the only option right now when the market is in so drastically bad condition. Long-term the case when the market will go up but not for now.

Are you sure you're not mixing things up? In most cases people refrain from trading during hostile short term market conditions, from where they solely focus on the longer term since that's the only thing they actually have.

I have seen how even the more senior traders here have taken a safe distance from trading because it's starting to look like gambling rather than trading, especially when you take the manipulation in consideration.

BitMEX has been a real obstacle for this market with how easy whales can benefit from even the smallest movements due to high leverage counts. We're basically watching them play with the market at our cost.

[Stedsm]

ETFs got rejected like a rally of rejections is being going on after SEC gave the reason that fraud and mismanagement of transactions as well as market manipulation is what made them think twice before even considering the delay of ETFs. After taking the BitMex situation into account (how they manipulated the markets just before going offline for maintenance), I believe we are not going to have this ETF thing approved sooner and so, there's lot more blood to come into the markets and make Bitcoins bleed before it starts to recover with a bigger move. It isn't really a good time to enter the markets even after knowing the facts currently because markets are literally fucking everyone out there who are trying their hands on making money with the use of leveraged trading (as the alts season has not yet begun). Wait for these "squeezes" to be moved out and then only think of getting in, or what you can do is - keep your orders set at dirt cheap levels and get your BTC bought instead of losing what you already have.

[atrocityx]

Shorts got officially got rekt, and now they've lost control.. looking to maybe go short at 7500-7800 but will have to monitor closer to time.  I think some pretty big whales got damaged on these positions as well, especially in ETH. Grats bulls, way to temporarily say enough is enough!

[miner49er1]

Shorts got officially got rekt, and now they've lost control.. looking to maybe go short at 7500-7800 but will have to monitor closer to time.  I think some pretty big whales got damaged on these positions as well, especially in ETH. Grats bulls, way to temporarily say enough is enough!

I'm reading we can have an ETF reversal decision as early as Jan-Feb, which will knock shorts right out of the water. No offense to anyone that shorts because its all about money, but shorts seem to be one of the main reasons we don't get the bull runs we would normal get in the natural ebb and flow so honestly, I hope everyone that bets on a loss, loses big. Just MO... Maybe I am wrong, thoughts? Go Bulls...

[dsc]

Our fund went in long at 5900 and planned to add to the position at 4900~ area. Anybody shorting right now is playing with fire.