hopefully the shorts get squeezed soon...not even enough in the orderbook on bfx to close them all...
if we go up it could get really quick
I don´t think this is going to happen as there are even more longs open. With USD 19 mln open this translates at current prices to more than 40.000 BTC (Not taking long positions in LTC into consideration). Bid side is only 26.000 coins to EUR 50....
Some will equal each other out, but then there will be still more longs to bring us rather down...
Keep in mind, many of those longs are the bids at 452 and below; compare the order books at Stamp and Bfx. Even in this thread, people are talking about reserving 30 day swaps because the rate is so low. That shows up as long swaps, even if no coins have been purchased.
I really, really, can't imagine anyone opening a new short when they could be squeezed so easily with nowhere to dump their position. If a squeeze starts, they will be competing with me and everyone else here to buy. 9400 coins to $4800,
10,200 10,314 shorts open....let that sink in. And then think about the whale that dumped 7k coins last month to squeeze the longs.
So this is clear: I hope no one changes their short position. This could be unbelievably fun.
Edit: I would think that many stops are hidden behind the walls. That is where I would set a stop; if there is enough buying pressure to break thru, then I misjudged the market.
So it would take 28-2900 coins in buys to cause a major squeeze. Anyone have $1.4M?
