Probabilities of a short squeeze are vanishing
Diupdate
On the TA side:
On the news side:
I closed my long position opened during the ascending triangle but I am not taking a short position until the official decision of the SEC on the ProShares ETF.
There is still a chance - that I consider small - that a denial of the ProShares ETF will have no effect on the market and trigger a short squeeze.
- BTC just broken the ascending triangle
- RSI trend is broken
- EMA 5 (4h) crossed EMA 50 (4h)
On the news side:
- The ETF of ProShares will most probably be denied by August 23rd while people sill hope for an approval
- There are still too much optimism in this bear market making me think we did not touch the bottom
I closed my long position opened during the ascending triangle but I am not taking a short position until the official decision of the SEC on the ProShares ETF.
There is still a chance - that I consider small - that a denial of the ProShares ETF will have no effect on the market and trigger a short squeeze.
Komentar
A short squeeze is still possible but BTC will have to break an important resistance level @ 6900$Komentar
No short squeeze finally Short positions on Bitfinex
Long positions on Bitfinex
Trading ditutup secara manual
I closed my trade at least temporarily for the reasons mentioned on the graph below
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