It is time to start closing short positions

[ask]

There is no selling pressure any more. If I was short I would increase my short position to buy later at 350 USD/BTC or lower. But something is telling me that this will not happen.

Some here should be THE BOTTOM.

[ask]

Shorts on BFX are closing their positions. Smart move.

Total Sum Active BTC Swaps            = 9273
Change Total Sum BTC Swaps (24h) = -1634

[intighet]

Shorts on BFX are closing their positions. Smart move.

Total Sum Active BTC Swaps            = 9273
Change Total Sum BTC Swaps (24h) = -1634

The more shorts closed at this price level, the more likely the most recent push was just a short squeeze. A real reversal would see organic buying pressure up to major resistance, and then a flurry of closing shorts providing the rest of the volume we need to get up over it.

Shorts closing now is important to the market because it cannot generate "free money". If too many people are poised to profit from a move, then it tends not to happen at all.

So, neither bullish nor bearish, really.

[notme]

Shorts on BFX are closing their positions. Smart move.

Total Sum Active BTC Swaps            = 9273
Change Total Sum BTC Swaps (24h) = -1634

The more shorts closed at this price level, the more likely the most recent push was just a short squeeze. A real reversal would see organic buying pressure up to major resistance, and then a flurry of closing shorts providing the rest of the volume we need to get up over it.

Shorts closing now is important to the market because it cannot generate "free money". If too many people are poised to profit from a move, then it tends not to happen at all.

So, neither bullish nor bearish, really.

None of the shorts closed during the run up.  They actually increased slightly during that time.  Well after we peaked is when a few thousand BTC worth closed out.

[ask]

One word: CIRCLE

[ask]

There is not much time for shorts...

[ask]

I really hope that you closed your short positions.

[glub0x]

I really hope that you closed your short positions.

please edit your post instead of flooding...

circle is amazing

[ThatDGuy]

circle is amazing

I haven't had a chance to use it yet - but anxious to hear about it! Why do you like it that much so far?

[fewcoins]

Shorts on BFX are closing their positions. Smart move.

Total Sum Active BTC Swaps            = 9273
Change Total Sum BTC Swaps (24h) = -1634

The more shorts closed at this price level, the more likely the most recent push was just a short squeeze. A real reversal would see organic buying pressure up to major resistance, and then a flurry of closing shorts providing the rest of the volume we need to get up over it.

Shorts closing now is important to the market because it cannot generate "free money". If too many people are poised to profit from a move, then it tends not to happen at all.

So, neither bullish nor bearish, really.

None of the shorts closed during the run up.  They actually increased slightly during that time.  Well after we peaked is when a few thousand BTC worth closed out.

Correct, If you read the info you can see this dead cat bounce we are having was just a short squeeze & since this run up to 350, massive short positions have formed... Once this starts going downhill it will become a snowball that gets way too big way too fast, you won't be able to catch it in time to close your long position 

[Addition]

circle is amazing

I haven't had a chance to use it yet - but anxious to hear about it! Why do you like it that much so far?

Y'all pretty luck in US, couldn't add my UK debit card for buying - suks

BTW is something going on with Circle?

[fewcoins]

There is no selling pressure any more. If I was short I would increase my short position to buy later at 350 USD/BTC or lower. But something is telling me that this will not happen.

Some here should be THE BOTTOM.

The market has been searching for a bottom all year... The stock market took years to find the bottom before it had a nice bounce.