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[cryptoart.com]

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[1715214486]

1715214486

[1715214486]

1715214486

[Hfertig]

I'll go first...


Active swap supply is up from 5800 to 9300 in three days.  This short action can't last forever.  


http://www.bfxdata.com/swaphistory/btc.php

And back down to 8365 without a short squeeze. USD at above 21 mln USD. Longs are more than 4 time leveraged compared to shorts. This can go on for quite a while. Despite this, I would not be surprised by another bull trap back to the 460-470 area.

[klee]

So what is their next move? Up?

[Hfertig]

So what is their next move? Up?

Difficult to say. Selling pressure is still there, but after those two days, I could imagine that the downside is limited. At least for now. Closed my shorts and now beeing long BTC for the first time since December 2013. I don´t expect that to last very long

[molecular]

I'll go first...


Active swap supply is up from 5800 to 9300 in three days.  This short action can't last forever.  

http://www.bfxdata.com/swaphistory/btc.php

At some point these shorts will need to cover.

doesn't the same go for the $20 millions of longs?

[grappa_barricata]

If i may add something, a sizable part of the 20+ M USD swaps were taken during the second part of the 'May-July mini-bubble', when we got from 570 to over 600 in a very short timeframe. You can see it here (btw, very useful site). Look at the second graph, use 6 month timespan.