Yet short interest on bitfinex is still floating around the all time high... if shorters are getting squeezed, others are jumping right in behind them. This could go on for another $100 or so before they all learn their lesson.
I think that process can go on for a *long* time. The flip side of people buying all the way down from $1000, $800, $600 etc (thinking it can't possible go lower), is that shorters can remain convinced that it can't possibly go higher.
This.
Shorters have been rewarded repeatedly for the last 11 months. They will need to be burned a few times to stop people selling into strength so much.
