This tells me there was a reversal in trend change and we're on the way to a new ALL TIME HIGH by the end of 2021.
I was very drunk when i made this caption LOOOOOOL.
Excited to follow price action this week.
We are actually on the bearish side for the short-term.
The current low market interest might lead to a prolonged correction, and the more times we fail at breaking up, the more bearish BTC looks for the short-term. CME institutional traders’ net position remains similar to the level in mid-February 2020 (the BTC price peak before "black Thursday" 40% drop), and it has been dropping significantly since BTC attempted 10k. For a short-term bullish scenario to work, we would like to see the institutional net positions reversing to an increasing trend.
What do you think of our setup below?
I was also drunk when i made this post.