BTC short positions hit 4 month highs

Short positions on bitcoin are the highest they have been in 3.7 months.

This comes on the heels of bitcoin dropping significantly when the tether news was released.

Take a look at the short positions chart:

(Source:  https://twitter.com/CoinDeskMarkets/status/1122716018328006656 )

Ironically, this is also when prices were near the lows.

For short positions to be increasing now, that might mean we aren't going to drop.

Historically short positions have been a contrarian indicator.

Meaning they shot up after prices had fallen, and dropped after prices had risen.

Meaning with this recent spike right now, we might not get the dip everyone is looking for...