Bitcoin Setting up for a Long Squeeze

Dec 9, 2019

Hello Traders,

The unusual amount of margin longs open combined with that symmetrical triangle break looks like we could see a long squeeze.

Dec 10, 2019

Note

Its breaking down but longs are still opening. hmm.

Dec 11, 2019

Note

This is weird. I was expecting a squeeze but not a massive close of long positions on absolutely no volume. There are 2 BTC long tickers for Bitfinex. BTCUSDLONGS and BTCUSTLONGS. Can someone clarify what BTCUSTLONGS actually are.

BTCUSTLONGS Last 342.58 -3755.7236 (-91.64%) According to this 3755.7236 BTC worth of margin positions were closed. -91.64% of that tickers longs, no volume on the BTC:USD or BTC:UST pair. Something isn't making sense here.

Dec 12, 2019

Note

longs still not closing.

Dec 17, 2019

Note

Target hit. Longs are on crack.