Smells like liquidation of shorteners...

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The market is doing its work amazingly, despite everybody's opinion about that we are in a bull market phase, the majority of them are shortening BITCOIN at the very first moment we see the shadow of a small bear appearing.
Yesterday, Binance futures was showing a balanced equilibrium between longs and shorts.
Today, we have a substantial difference between both...

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Who will win, nobody knows accurately but I have seen many times the same and I can tell you that it smells as a Liquidation of shorts is going to happen in no time now.

BITCOIN is testing a good resistance level around 11350 USD, touched 4 times since August the 5th:

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Breaking this resistance with volume would bring the price to the 10400 USD area again but I think this time BITCOIN is going to hold the current level.

I'm sharing only my quick trading Ideas here, not financial advice at all ;-)

@toofasteddie

*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

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16 comments
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Very interesting one but it seems that on Bitfinex and Bitmex Long BTC are 70% of total futures and it is even more "Longish" for ETH futures.

I would love to believe you but I am kind of scared haha

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Binance Futures is much more sensible to market sentiment that the other two big futures exchanges in my opinion.
I really think this resistance is strong but, of course, nothing is for sure here ;-)

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I did not know that but it is very good to know !

Thanks

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Playing the leveraged game it's the last thing I'd do. The house always wins, hence we might see a short liquidation soon, but if @vlemon is right and on Bitfinex and Bitmex Longs are in charge... then it's either going up or down...:))
I still believe we're in the incipient phases of the bull market and for me it doesn't really matters that much what BTC does short term. I believe that one year from now we will be amazed of the price growth all cryptos will register and don't plan on selling anything yet. Maybe I will sell some on Christmas Eve ;)

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Bitfinex and Bitmex are always stuck on the very same levels
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Binance is most sensitive to the market sentiment IMO

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BTC currently in the 11.4k region hopefully it reaches 11.6-7k for a stronger hope for 12k.

Posted Using LeoFinance

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Thanks for your interesting analisys, mate: you deserve a bit of !BEER and a small !tip 😁

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Sorry, you don't have enough staked BEER in your account. You need 24 BEER in your virtual fridge to give some of your BEER to others. To view or trade BEER go to hive-engine.com

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