Bitfinex shorts at all time high $570 million dollars notional

Bitfinex shorts are at all time high: $570 million dollars shorted, most underwater or at break even since June 7th. All with daily bullish RSI divergence and weekly 50 MA support.

If price dips: they will cover and provide a floor

If price rips: they will get liquidated and cover, and we rip harder

Incoming short squeeze of epic proportion>

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Here's how the shorts mooned from $50 million to $580 million since June 7th

All of these are underwater or near break even now

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$660 million short :O

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$714 million notional value short. This could get ugly

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Most of the shorts opened in this time-range so we can expect $35k to $36.5k to be 'underwater bear support'