If I understood better about bitfinex, I would bet that it would go higher (in the up coming weeks).
You do bring some legit observations about the bearish issue (and I did expect 700 for this week already since it hit 680 last week).
Its barely getting 650. Lets see what happens mid to end week.
Market is feeling rather heavy. That is why I exited my position at small loss.....for the nth time in the past phucking week, thus largely devouring the profits I made on the way up (again, less than half of what I could have made if I wasn't a shit trader)
I very much agree with your position on leveraged longs. ATH in longs, at this price level and movement, and considering (from my amateur observation of BFX and Stamp on Wisdom) much of this rise on Stamp was push up by BFX market buys....makes me nervous. I still see some people mentioning "short squeeze" here and there. I think the shorts have been squeezed. And if the bullish momentum doesn't start soon, these longs risk feeling the squeeze. (And the books are scary thin for the amount of longs too)