Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

http://www.bfxdata.com/swaphistory/totals.php

seems like a huge short or amount of shorts closed

^^ This. Looks like that big buy was no whale accumulator, but a/many shorter(s) closing their positions for low slippage.
Potentailly bearish in reality as 11k was waaay too high for the market to make any significant move down.
Now at 5.5k, there are not enough shorts to squeeze IMO.

What does this mean? I am not very familiar with the technical terms...

Normally when you market buy 3-4k, you get a slippage of a few %. For example if the price is 460, but there is only 4k coins to 500, you get a slippage of around 8%. When there is a wall at 470, you only get a slippage of a few %. I hope this is clear for you now. Maybe some traders could elaborate this a bit more.