Sup Steemit Friends,
What we know before August 1,
-ViatBTC will create BCC via a UAHF (maybe a loss of 5% of total network hash rate).
-If hashrate is lost to BCC and Segwit2x does not activate before August 1st - expect price fluctuations.
-Current Tether readings indicate bullish movement if August 1st is not an event
-Margin-long vs Margin-short is non-related if you look at a one year chart - But, in the case of turbulence because of uncertainty as described above, the historically high long position could result in a quick but short lived sell off to squeeze the longs.
-A bull flag is forming on the daily chart that projects the price to 3200-3600. This is consistent with analysis by Goldman Sachs technical analyst Jafari.
Takeaways,
-I would not sell-off to buy back later. That is what everyone is doing. You could do long squeezes but you could do better than 50% buy and place orders to buy all the way down should a short lived squeeze happen.
-Good luck mates.
