$BTC 107k short positions vs 102k stop losses, is the market about to change?
Currently in the market, the number of short orders at 107,000 is increasing, and the 102,000 position is also filled with short stop-loss orders waiting to be triggered. Given the recent behavior of the market, something will definitely happen at one of these two price levels before Friday—either break through the pile of short orders or trigger the short stop-loss orders.
Although I personally lean bearish, as the short positions keep piling up, I don’t plan to short! I'm just waiting for the big show. If the key level of 102,000 is truly broken, I bet there will be a violent washout first, before a V-shaped reversal that leaves a long lower shadow.
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