Xzhi
Long

Bitcoin (BTC) Looks bullish but be careful.

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Long term, I believe Bitcoin can reach 5000 to 5274 before making its next move down, as the amount of shorts we have is quite high, and each must buy back into the market at some point.

The funding also is still very negative on Bitmex, which is good.

However, if you want to buy Bitcoin now, you might catch another move up, but the asks on Finex are rising and we are approaching the area of major resistance again. 4.2k is where a lot of people longed, evident by the spike in volume . Some may still want to get out break even. This was also the price 50 million USDT worth of Bitcoin was bought.

Wait for a correction down supported by Finex bids before joining in if you haven't already. If you insist on longing, a reasonable stop loss that is unlikely to get hunted/hit is 4% away from here, so not the best trade to take.

Thanks for viewing!

I have called this drop to 3k months prior and believe the bottom has not been found yet. I do believe in a bounce to 5k before a drop to 2k, unless 3k can hold. Either way, buying Bitcoin at these levels is a good idea if you DCA .
I will start buying more Bitcoin under 3k if we get there.

The Bitmex market maker actually longed the 3.9k levels. Guess I should have followed him.
Dec 01
Comment: We got to sell off as suspected. 3k btc was sent to finex today too. I'll have to see if any of it was sold.

To be honest I had a short and got stopped out and reshorted again after realizing that was a fakeout.

Doesn't feel good being caught.
Dec 01
Comment: One of my worst experiences was a xrp short scalp that got stopped out exactly to the satoshi causing me to miss a huge move down.

Bitmex probably countertrades their customers too like you would expect.

I'm pretty sure they know exactly where stop clusters are too, since occasionally you get moves that are seen on bitmex only.
Dec 01
Trade active: Another thousand btc sent to finex again.

If you are a bull you probably don't want this occuring.
Dec 02
Comment:
If the shorters here are saved this looks very bad. If they aren't, then ill be longing this.
Dec 02
Trade active:
Good. This is what I expected. Now if we go below the low of the previous zone and stay there, then it will be bad.
Dec 02
Comment: If a bunch of shorters come in, there will 100% be a spike to liquidate them. I'm looking at MDR right now and its very high.

Both bids and asks dropped, so might reverse.
Dec 05
Comment: We dropped below previous low long ago , so be careful longing this.
So what's the website called sir? I like your charts, you were one if the few that were calling for short when the rest of the market was saying we bottomed st 6k.
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BTCUSD D1 Long Term EW Analysis. Checkout the idea detail's and all the update's for the complete picture!
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Target 2100-2900$

History repeats itself? Check the answer in my analysis
Have a nice day!
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BTCUSD H4 Update. Checkout the idea and detail's for the complete picture!
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Serious is there a way of finding out or is that just your theory?
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Xzhi Ikowais
@Ikowais, To find out BAS, there is a website dedicated to it. To find the 50 million USDT worth of bitcoin being bought, i looked for the usdt transfer to finex, then looked at the tcharts candlesticks that let me track the exact number of bitcoin bought and sold.
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what is the way to know Bitmex market maker longed at 3.9k level ? thanks
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Xzhi SamHuynh
@SamHuynh, because he told me.
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