This is exactly how parabolic uptrends happen...
70% increase in shorts over the last 24 hours. People thinking the top is in and shorting when then trend is clearly to the upside. The shorters provide liquidity for major players and market movers, essentially fueling the big buys and big price surges. The same thing happens on parabolic downtrends. People try to catch the bottom long before the bottom is in and just provide selling liquidity for the big players.
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