What's up Short Maestro here, I didn't post for a few days because of health issues and market had not much to work with.
But now the 24 hour low and high gap is closing in, 56k to 58k range is getting tigher meaning some insane price movement incoming soon.
In theory, an efficient market will converge the price to 57k and stabilize but this market is full of gamblers so we will instead see some lasers.
I am still predicting that BTC will take a massive dump to sub 50k levels.
There are too much supply out of circulation but can be dumped any time. Like German Gov.t selling. There's a lot of organizations or individuals that hold significant amount of BTC but has been idle. Like US Gov.t or Mt. Gox.
And Mt. Gox has to pay their creditors, most of that btc is probably getting paid back directly and the creditors will dump in central exchanges.
This is inevitable and seeing how even the stock market is at all time highs, this post covid economy bubble is nearing the end.
I added a lot more margin to my BTC short near 57k~58k today.