I think most 1k bitcoin + holders don't see new lows possible any more, and a short sell very dangerous (if they've held before 2014)
This'll be a big fight either way, don't expect new lows, or even below 200 for very long without huge volumes.
Anybody with a margin short right now must be crazy.
What is "bullburn"?
Btw. Bulls are Bulls because they are bulls. And if you are ba true bull you will stay as a bull forever.
Those short sells must be burning too right?
To shake out people who bought between $160-$200, bears at least need to dump to $150 to trigger stop losses and further dump to below $100 to trigger some additional panic sale.
But, does the benefits of dumping overweights the costs of dumping at this point?
And how much bitcoins can bears borrow now to dump?
And don't forget the whale, it would definitely squeeze the shorts, if such move brings more profit. Unless the whale is ideological against bitcoin without any consideration of profit.