BTC - Short Squeeze possible

At last, there is a falling wedge, a bullish pattern, and it really can't and wont play out correctly to the downside anyway. Old Dec low and 200 week SMA are just too strong support levels, there is simply no room it can break properly to the downside.

The more we go sideways the less bullish I feel

I think the contrary is actually the case. Per EOD, we'll have broken the falling wedge on the daily chart. Less than 2 hours to go.

when the trend is down, sideways is bullish!

I will for 1k a BTC

hilarious, you'll be long dead before that happens. It's people like this who are just driving everyone crazy.

just to make waiting for the pump more enjoyable...sideways is good...it's happening!

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>bitmex
you know that every short on bitmex is paired with a long right?

what do you mean by 'everyone' - individually like a straddle or do you mean the sums:
LONGS: $322,921,547 49.25%
SHORTS: $332,795,342 50.75%

every short is someone's long, the short:long ratio is always 1:1.
I think these sites show the ratio between maker vs taker trades which is pretty much irrelevant

no! Shorts borrow coins for a fee, leveraged longs borrow USD. Sure there are no-leveraged longs on Bitmex, who also supply BTC to sell short. But the point is, a short is a leveraged position that costs interest and has to be covered at some point. So, no, there is no 1:1 ratio between leveraged longs and shorts. The long vs. short ration is important. If there are no shorts, there can't be a short squeeze, if there are no longs, there will be no long-squeeze.
But the ratio itself also doesn't cause a squeeze.
Shorts have gone up by 30 million USD in the last 3 days. And BTC has been creeping upwards. So, shorts have been trowing more money at was a losing bet the last 3 days.
Therefore, if this continues, a short squeeze is becoming slightly more likely. And I think longs can at at this point, if they get more optimistic.

the only way to open a short is to sell into what? a buy offer
what's a buy offer on bitmex? someone's long
A ratio different than 1:1 is only possible on a normal spot market like bitfinex.

yes, sure but where are the coins coming from you are dumping in the buy order (or just put them in the order book)? You borrow them, from yet another party, so that you can sell them, opening a short position. Bitmex lends coins to short sellers, so that short selling is possible.

there's no borrowing on bitmex because nobody gets the notional value of contracts, every profit is someone's loss. That's the only thing that's actually transferred.

The interest rate on bitmex is paid when the price diverges from the reference price, it's function is to incentivize people to move the price close to the reference rate.

Borrowing exists on bitfinex because it's an actual spot market.

there are always as many longs as shorts on bitmex as you're not trading bitcoin on bitmex. you're trading the perpetuals or futures. the price for the perpetuals is kept in check by the mechanism describes and the futures work because they are settled when the contract runs out. it's always as many longs as shorts.

yes, but the futures contracts are hedged, otherwise Bitmex would take the risk. And, Bitmex has an API, showing long and short positions, and they are not equal.
I admit it's complicated, but in the end, short and long is not 1:1, if you include that the futures are also hedged.

you will now argue the futures are cash settled...it's ok, I got your point

BUY NOW IT'S HAPPENING!

twitter.com/bitmexrekt?lang=en

I don't know what you're talking about. there is nothing to hedge. users buy and sell contracts to each other. bitmex doesn't buy, sell or hold anything (well, except those wannabe options...). you're right in that the bitmex api does provide the number of longs and shorts. it's the open interest. it's one number as there are exactly as many longs and shorts. there is nothing complicated about it. just admit that you've been wrong, nobody will taunt you.

Probably gonna dump hard next couple of days, but I think the bull market will begin soon after

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depends on whether the longs panic, when the rally is shorted (it is obviously). But I don't think so, I speculate we'll be making higher lows.

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He bought?
Damp eet!

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just added, to my long, call me crazy ;)

reddit.com/r/BitMEX/comments/8t1w8n/is_there_a_bitmex_short_vs_long_statistic/
you are right about the api, I was using the estimate from here which tries to approximate the data:
blockchainwhispers.com/bitmex-position-calculator/

I'm not sure what they display on that page, but they can't approximate it in a meaningful way as it's always the same number of longs and shorts. they're either showing the positions published in the trollbox or are counting market orders. I've seen both statistics on other pages.
for a similar statistic, you could also look at the difference between the price on bitmex and the index. if bitmex is higher than the index, then the traders there are bullish. the other way around for bearish.

I just read on reddit this is indeed just an attempt to approximate, I have to look deeper into this. Thanks to pointng it out!

so, as expected, we had a (tiny) rally, and also, as expected, it was immediately sold. But my point is, previous rallys that were sold, moved the price below it was before. I don't see that fear any more, which I find is bullish. I hope we keep making higher daily lows, then I'm already happy.
We have also a nice daily candle, confirming the wedge breakout to the upside. So I think we are making progress here, don't panic. I don't think BTC will be crashing here, I think being long at this point will be rewarded in a couple of days.

eth is for fags and women

ETH has a higher beta. It moves up or down at a multiple of BTC, for the correlation part of them.

This is actually true...

Not sure that was the "rally". Still waiting for the pump, and that wasn't it. The coming pump will move the price more than $100.

I agree, but i trade it because you will mostly get much higher percentage gain

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Nvm just got stopped out. Fuck I can't catch a break.....

now some longs are being stopped out, hence the long rad candle, fuck. Let's hop it recovers from here.

Don't sweat it too much guys, the trade from the bottom back to 2017 all time high is where you're gonna make it

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not looking too bad, selloff did not produce much volume, just the liquidated longs apparently. Staying bullish!

closing above 3475 on Bitfinex would be very good, 22h to go for this day!

>closing above 3475 on Bitfinex would be very good, 22h to go for this day!
you mean 3375?

and then after the pump we dump a bit (bear trap) and then moon!