$BTW Big Long positions are keeping the shorts at bay.
Looking at this one-step-back, three-steps-forward chart, you guys might find it a bit confusing that short positions are dominating both in percentage and number of accounts. Selling pressure has also been consistently strong, but it still hasn’t managed to push the price down. The reason probably lies with the traders who have a lot of money—I’ll put it simply like that. There may be fewer of them, but their positions far outweigh the shorts, at over 68%, and they’re on the Long side. Keep an eye out: every now and then there’s a big pump that jerks the price up, making short sellers nervous and prompting them to close some positions. Those are the ones people call “whales.” Sometimes you see open interest drop sharply while the price still rises, right? This may be a test of who’s more patient and which side has more staying power. At this point, all it takes is for one side to lose patience and give up, and the price could reverse dramatically. I don’t have much capital and prefer to take quick profits, so I’ve already closed my position. I don’t have the stamina to watch a trade like the experts with their long-term vision. Do you guys think this battle has been dragging on for quite a while? At least since last night. And that 68% figure has stayed unchanged for three days, as far as I can see; only the number of accounts opening short positions has increased.
Good luck, everyone!
$BTW
$MOVR This coin is the same—the tug-of-war is really nerve-racking.
Looking at this one-step-back, three-steps-forward chart, you guys might find it a bit confusing that short positions are dominating both in percentage and number of accounts. Selling pressure has also been consistently strong, but it still hasn’t managed to push the price down. The reason probably lies with the traders who have a lot of money—I’ll put it simply like that. There may be fewer of them, but their positions far outweigh the shorts, at over 68%, and they’re on the Long side. Keep an eye out: every now and then there’s a big pump that jerks the price up, making short sellers nervous and prompting them to close some positions. Those are the ones people call “whales.” Sometimes you see open interest drop sharply while the price still rises, right? This may be a test of who’s more patient and which side has more staying power. At this point, all it takes is for one side to lose patience and give up, and the price could reverse dramatically. I don’t have much capital and prefer to take quick profits, so I’ve already closed my position. I don’t have the stamina to watch a trade like the experts with their long-term vision. Do you guys think this battle has been dragging on for quite a while? At least since last night. And that 68% figure has stayed unchanged for three days, as far as I can see; only the number of accounts opening short positions has increased.
Good luck, everyone!
$BTW
$MOVR This coin is the same—the tug-of-war is really nerve-racking.
