Total leverage exposure is starting to reach towards lows which have been seen at each previous top preceding a dump in this market. Longs have increased from 20k to 30k from 6k Shorts are reaching the 20k lows which we have seen in advance of each previous dump Conclusion – Retest of 3k coming.. eventually it will be but prly need to clean these longs out first.
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Slight update on this one as its playing out as anticipated. It will start to look like a bottom when - c.15% of the current longs are blown up and return to 26k and - late shorts take us +40% to 36k. i.e. min 13k sells to go at finex IMO.
Also, you are absolutely right- looking at the BTC-Shorts chart if you look at the last two lows- August 1 and November 14, both resulted in MAJOR dumps- the trend-line that is now formed with those dates and where we are now cannot be ignored- I would not be going long right now!!
Great job at showing the long and shorts. This is an analysis I've been looking for someone to do for a while! Great work. Here is our perspective on where we could see BTC going.