As Mario Might Say, "here we go!"
So this is what a short squeeze looks like:
BTC/USD Coinbase Weekly | https://www.tradingview.com/x/FmjUIzQe/
The clarity of the weekly shorts is draaaaastic 0_O ... lemme explain
- Bitcoin chart breaking above 10,000. Hell yeah. Aaaaaalll aaboard!!!
- Bitcoin shorts and longs on the left (jagged red and green lines), holllllyyy hell net short ratio (the big red shit everywhere lol)
- If that net short ratio corrects, that means people are closing shorts and buying bitcoin. That is really bullish.
- Green 2 over a green 1, over a 9...bullish as tone vays would say even though he's not on board with this run. This is on the WEEKLY. Looking at the chart of where the long vs shorts actually are isn't crazy out of balance, but they're often wrong because people are simply hedging or being stupid with leverage and getting liquidated. This is pretty damn bullish despite the RSI divergence from the all time high so faaarrr...
DAILY | https://www.tradingview.com/x/d1PE6lPF/
- Net short on the daily too
- Bit more balanced but that looks bullish up to the previous $11775 good chance, those are all people getting rekt or hedging larger long positions who are happy to lose that shit.
- You could imagine the big red and green area could be forming a bit of a triangle as well, suggesting it could be a little contained, which is agreeing with the $11000+ area from here...ish. Higher lower who knows, looks good.
- Green 2 above a Green 1, above a 9 so daily and weeky TD aligning
EXPECT A CORRECTION this run has been crazy ever since 6800+
Lemme know what you think if you found any value or disagree!
*Just a random dude on the internet sharing his thoughts. Do your own research, I'm not a financial advisor or licensed in any way. I hodl bitcoin and I'm generally bullish long term but not to the point of stupidity, so take that and my thoughts as you will.
**Leave a comment, say hi, say thanks, tell me I suck. Upvote, something, shit. Is this place just bots? Or do we have real people. If you've made it this far, do something that shows you're a person roun' here. Thanks, partner.
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