Published On: Thu, Aug 17th, 2017

Bitcoin Price Analysis: Long and Short Squeezes Shape a Weakening All-Time High

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This morning, BTC-USD pushed a new all-time high on several exchanges. However, this time, the momentum to continue higher seems to be waning. Shortly after establishing the new all-time high, there was a $150 flash crash that sprang a series of account liquidations across several exchanges in a move that would ultimately “long squeeze” the market. A long squeeze is a term used to describe the sudden cascade of long positions getting stopped out of their positions, causing market orders to propel the price even lower:Figure 1: BTC-USD, 5-Minute Candles, Bitfinex, Long SqueezeThe figure above shows the price movement …

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