Take a look at this chart for $DASH —the bears are practically handing their underwear to the market makers.
First, the data:
The long/short ratio is ridiculously lopsided, at just 18.17%! 580 shorts are relentlessly grinding down 134 longs. But the price is now 47, and the bears’ average entry is 47.78, so they’re just hovering around their breakeven point. With shorts this crowded, even a slight bounce could trigger a stampede!
Now, the technicals and price-volume action:
The daily chart is still in a broader downtrend, but price is right on the major support line at EMA144 (46.91). Switch to the 4-hour chart: after dropping to 43.21, price rebounded on rising volume. There’s a bullish MACD divergence and golden cross, and price is now holding firmly above EMA21.
With a chart like this, absolutely do not chase the short!
Here’s my take: around the current price of 47.00, go straight in with a long!
Shorting now is like catching a falling knife for the market makers. Put your stop at 45.50 (if it breaks below the previous launch platform, accept the loss). Since everyone online is short, I’ll go along with the market makers and ride the short squeeze. First target is the EMA55 resistance overhead at 48.00; if it breaks through decisively, look straight to 50! $DASH
First, the data:
The long/short ratio is ridiculously lopsided, at just 18.17%! 580 shorts are relentlessly grinding down 134 longs. But the price is now 47, and the bears’ average entry is 47.78, so they’re just hovering around their breakeven point. With shorts this crowded, even a slight bounce could trigger a stampede!
Now, the technicals and price-volume action:
The daily chart is still in a broader downtrend, but price is right on the major support line at EMA144 (46.91). Switch to the 4-hour chart: after dropping to 43.21, price rebounded on rising volume. There’s a bullish MACD divergence and golden cross, and price is now holding firmly above EMA21.
With a chart like this, absolutely do not chase the short!
Here’s my take: around the current price of 47.00, go straight in with a long!
Shorting now is like catching a falling knife for the market makers. Put your stop at 45.50 (if it breaks below the previous launch platform, accept the loss). Since everyone online is short, I’ll go along with the market makers and ride the short squeeze. First target is the EMA55 resistance overhead at 48.00; if it breaks through decisively, look straight to 50! $DASH
