Bitcoin Technical Analysis: Shorts Drop

By Workin | Technical Analysis | 16 May 2019

After a failed second attempt to break above, Bitcoin remains below the $8,450 resistance. Daily volume is currently hitting another all time high, just above $34 billion.

Short positions have dropped nearly 41% inside of 1 min. In other words, 1 person liquidated a ton of shorts. Strangely enough, it happened on an insignificant candle, and barely effected price at the time of execution.

In today’s analysis I discuss what a drop in shorts might mean to the market, key areas to watch, where my buy orders are waiting and so much more. I hope you find it helpful.

Video Analysis:

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

Disclaimer: This is NOT financial advice.

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Workin

Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom

Technical Analysis

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Bitcoin Technical Analysis: Shorts Drop

After a failed second attempt to break above, Bitcoin remains below the $8,450 resistance. Daily volume is currently hitting another all time high, just above $34 billion.

Short positions have dropped nearly 41% inside of 1 min. In other words, 1 person liquidated a ton of shorts. Strangely enough, it happened on an insignificant candle, and barely effected price at the time of execution.

In today’s analysis I discuss what a drop in shorts might mean to the market, key areas to watch, where my buy orders are waiting and so much more. I hope you find it helpful.

Video Analysis:

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

Open a free account on Binance here:https://www.binance.com/?ref=16878853

Open a free account on Binance here:
https://www.binance.com/?ref=16878853