BTC shorts caught out of position

Aug 25, 2018

Enough said - BTC shorts were low and falling when BTC was at $8500 and hit a low point when BTC fell past $7600. Since then, BTC has found support and people have been rather slow to realise they are on the wrong side of the trade. What will happen? Shorts being closed and people being liquidated resulting in BTC being catapulted above $7000 (target $7400+). Rather than trying to push BTC in a direction, react to it. Otherwise you will also be caught out of position.

Thank for visiting, please leave a like. Protect your funds.

Aug 28, 2018

Note

The steep drop in shorts is well underway. This would be a good time to reconsider your short position as the price action looks inconsistent with a bearish view. Next stop is $7000+ before the next correction.

Aug 28, 2018

Note

Now we are really rolling

Aug 29, 2018

Note

If BTC hits the predicted $7400+ then almost all BTC shorts entered between the 3rd and 21st of August will be underwater. This is possibly what capitulation looks like, people who may have believed in BTC at one stage have decided to join a long line of people entering shorts when BTC at or near its support. Not only are these people out of position but when they realise this they will add more strength to BTC.

I'm not taking pleasure in this, I know what it feels like to be on the wrong side of a trade. But if you have been waiting, like me, for the capitulation phase following the bubble, its relieving to know that we may have reached that stage and a that much closer to recovery.