$BTC is down five points, and everyone in the group is yelling that shorts are dumping.
I checked the big players' books: shorts only added 1.75 points, while longs themselves cut 1.75.
That's longs liquidating longs, not a short attack.
So did the big players flee? The big players are still 65.72% long; it was only the small fry who ran.
They handed the bags to retail, whose long positions climbed from 64.07 to 70.29.
Buying more as it falls, standing on the edge of a knife to count the bargains.
The funding rate is still positive, so longs pay overnight fees every eight hours.
People paying to hold their positions usually haven't given up yet.
77143.9 is just 3.7 points from the 20-hour moving average; the risk-reward for chasing shorts is less than 1.
I'll sit tight and wait for a rebound. We can talk shorts again above 79968.
(Not investment advice. You are responsible for your own gains and losses.)
I checked the big players' books: shorts only added 1.75 points, while longs themselves cut 1.75.
That's longs liquidating longs, not a short attack.
So did the big players flee? The big players are still 65.72% long; it was only the small fry who ran.
They handed the bags to retail, whose long positions climbed from 64.07 to 70.29.
Buying more as it falls, standing on the edge of a knife to count the bargains.
The funding rate is still positive, so longs pay overnight fees every eight hours.
People paying to hold their positions usually haven't given up yet.
77143.9 is just 3.7 points from the 20-hour moving average; the risk-reward for chasing shorts is less than 1.
I'll sit tight and wait for a rebound. We can talk shorts again above 79968.
(Not investment advice. You are responsible for your own gains and losses.)
