Quote from: pooya87 on January 30, 2021, 07:07:23 AM

Quote from: STT on January 29, 2021, 11:58:31 PM

Sold off from that peak, quite strange for it to reverse not sure why completely but it could settle and rise from here. 2 day and weekly average here so closing above there for the day is quite bullish. Really fast trade I rate 12hr to watch this in asia trading and see if momentum returns.

There is a good chance that this was a short squeeze, in order to force those who have been shorting bitcoin to lose a ton of money in only a couple of hours and learn their lesson not to go against the bullish trend. The accumulation is still ongoing which could be the reason why the momentum is still not forming up pushing the price over the $40k threshold.

I really love this new hatred towards shorters, I have always had that hatred ever since it came to crypto as well, I have to say that I was ignorant about shorts before it was in bitcoin world, didn't know that they were this big in the stock market world but I didn't cared because I never invested into any stock before, but the moment they came to crypto world I hated them.

They were making money from the misery of everyone losing money, their profit came from our losses which means that they were trying very hard to make bitcoin price go down, they paid the media, they had goons writing online everywhere, they were basically kings of FUD and that is how they got rich, now that there is a hatred towards short squeeze and people figured out that if you just buy and hold you could make ten times more money than the regular period just thanks to shorters losing extra amount of money.