Long time since we haven't seen a green light in crypto world. Still anticipating on a corrective move to around 5,7k level, ideally - 50-61.8 fib retracement. I totally agree with @torayk aka @cryptowzrd on his statement of target-driven manipulated price to catch the masses with media screaming of the beginning of a new bull cycle. In fact, there was over 30,000 BTC worth of capital(margin included) in short positions on BITFINEX. Yet, as BTC has continued to push higher, literally, sliding through 6,400, 6,800, 7,200 and ending it's surge at 7,200 area, short positions have begun liquidating left and right. Meanwhile, longs been opened en-masse - a true indicator that the current rally is over. It is important to note that there is still a shit ton of shorts that have yet to bite the dust, meaning there is a potential for a move even higher. Once (or if) the squeeze finishes the price will return to more sustainable, organic levels.
IT IS AN EXCHANGE-DRIVEN GAME, NO REAL INVESTORS ARE BUYING INTO THE RALLY.
IT IS AN EXCHANGE-DRIVEN GAME, NO REAL INVESTORS ARE BUYING INTO THE RALLY.