How to find market bottoms

Thoughts on the price effect of the CBOE btc futures settling on May 16th?

@SloppySeconds, right now I'm quite bearish on bitcoin and i think the price will be sub 9k by the 16th, if I'm right cboe will either have a nice bull trap or fuel the fire and drag the price further down.
either way, bitcoin should decline further after the futures settle in my opinion.

Thanks for the info and effort in putting this chart together. I'm a newbie on tradingview and would like to understand more what "longs" and "shorts" chart is showing. Is this a number of long and short positions that are opened? Thank you again.

@cashelephant, Hey, yeah the numbers on the btcusdlongs and btcusdshorts charts show the net BTC value of all all btc/usd longs or btc/usd shorts respectively. So for example if there were 700 total bitcoin longs, each having a position of 0.1 bitcoin, the charts would show 70 because that's the total value in btc. Hope that helps! :)

@deniskov, Sorry another noob just bumped on to this page, very basic Q's what does each of the lines mean, could you please advise, thank you.

@thunderstrike, Sure, ill try to go from top of the chart to bottom; the bright blue line is the price of bitcoin/usd;
the light blue lines are the bollinger bands, they're like a volatility channel, i find them very useful
next, the thin brown line between the bollinger bands is a moving average for these bollinger bands
the thick green line is the 60 'double exponential moving average' or DEMA, just another longer-term moving average
the green and red candles represent the value of btcusdlongs/btcusdshorts - if you're not quite sure what this is then check out btcusdlongs and btcusdshorts separately- this is just dividing one by the other to show which one is dominant; if this chart's candles go up that means btcusdlongs are gaining dominance and if it goes down that mean btcusdshorts are gaining dominance

then on the bottom we have the RSI indicator which shows the 'strength' of the chart, generally people use this for divergence, overbought/oversold levels, or to look where RSI hits key support levels like 50
on the very bottom, the green columns are the CM_Williams_Vix_Fix indicator which help find bottoms in the chart, the bigger the column the more likely it's gonna bottom and bounce.

Hope that helps!

@deniskov, Thank you very nice.

Thanks for the TA, any chance you can share your pine script? Thanks!

@ascorbic, I didn't make any pine scripts, if you're interested in the indicator with green bars on the bottom that's the CM_Williams_Vix_Fix which is accessible in the public library of indicators.

nice TA