The longs have just been cleared for a round.
In the past 12 days, there were liquidations totaling roughly 400 million (RMB equivalent) from long positions about 360 million.
The number of coins held in long positions has fallen back below 700,000—about 680,000.
Long-to-short ratio is 0.86.
There are more short sellers than longs.
The crowding is temporary.
It doesn’t mean the reversal upward has started.
My view:
Don’t rush to add leverage right after this kind of liquidation.
Wait for the momentum to dull.
Being long at a midway point counts as courage.
#Contracts #BTC$BTC
In the past 12 days, there were liquidations totaling roughly 400 million (RMB equivalent) from long positions about 360 million.
The number of coins held in long positions has fallen back below 700,000—about 680,000.
Long-to-short ratio is 0.86.
There are more short sellers than longs.
The crowding is temporary.
It doesn’t mean the reversal upward has started.
My view:
Don’t rush to add leverage right after this kind of liquidation.
Wait for the momentum to dull.
Being long at a midway point counts as courage.
#Contracts #BTC$BTC
