Spot active trades in the past 15 minutes: sell 102, buy 37, and the buy/sell ratio fell to 0.36—BCH on this run is basically one-sided dumping now. 264, I’m short.
Over on the big money side, the most puzzling part: the long accounts have been adding for seven hours, yet their real, hard-money long positions have shrunk by more than two percentage points. The more accounts they open, the more the positions contract—this isn’t institutional adding; it’s small change acting as a cover for the big money.
Fees are flat at 0.01%. The longs can’t even be bothered to pay the interest, and the position size shrank by two points in a day—the leverage has been withdrawing for a while. The price has been grinding down from these recent highs all the way back to 264; the windows for upside have been sealed one after another.
In the earlier push to new highs, prices could reach 281 and 286. Now they can’t even be bothered to give you 265—each rebound is getting lower.
Unless the spot active market flips and the buy orders really come in and clear the sell orders, otherwise going long from here is just handing money to the people above. I’ll leave my short here first and see who comes to take that sell order. #bch $BCH
Over on the big money side, the most puzzling part: the long accounts have been adding for seven hours, yet their real, hard-money long positions have shrunk by more than two percentage points. The more accounts they open, the more the positions contract—this isn’t institutional adding; it’s small change acting as a cover for the big money.
Fees are flat at 0.01%. The longs can’t even be bothered to pay the interest, and the position size shrank by two points in a day—the leverage has been withdrawing for a while. The price has been grinding down from these recent highs all the way back to 264; the windows for upside have been sealed one after another.
In the earlier push to new highs, prices could reach 281 and 286. Now they can’t even be bothered to give you 265—each rebound is getting lower.
Unless the spot active market flips and the buy orders really come in and clear the sell orders, otherwise going long from here is just handing money to the people above. I’ll leave my short here first and see who comes to take that sell order. #bch $BCH
