ZEC has been so strong these past few days, is it just to blow out those large short positions? It keeps pumping and keeps liquidating them. A lot of retail traders have also gone short, and now they’re trapped and crying out in pain; very few people dare to chase long with the trend.
Looking at the current trend, the next upside target seems to be above 1600. If this 1550 short position doesn’t average down or reduce size, it will also become cannon fodder.
That’s just how the market is: the stronger the rally, the more shorts there are. The more shorts there are, the more excited the market makers get. In short, the height of the pump depends on the ratio of short sellers.
$ZEC
Looking at the current trend, the next upside target seems to be above 1600. If this 1550 short position doesn’t average down or reduce size, it will also become cannon fodder.
That’s just how the market is: the stronger the rally, the more shorts there are. The more shorts there are, the more excited the market makers get. In short, the height of the pump depends on the ratio of short sellers.
$ZEC
