Rombit

Bitcoin short term expectations

Short
BITFINEX:BTCUSDLONGS   BTCUSD Longs
Too many traders are bullish now. Whether the majority may be right?

Comments

You are forgetting the silent evidence. These are just short term traders most probably. The market direction isn't defined by leverage(till now) but by spot holders. What are 32k BTC compared to millions? Plus, these longs can close on the way up out of fear of losing profits(bear market sentiment shift).

You are looking at the wrong indicator.
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Rombit ZoltanBalogh
@ZoltanBalogh, I completely agree. This chart is just about short term situation on leverage market. My long term expectations from bitcoin are here:
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