Bitcoin shorts are at or close to an all time high, something like 62% to the short side now.
datamish.com/d/...00000004/btcusd?refresh=20...
I'm wondering if most are on the short side of the trade and thinking BTCUSD is set for a downsilde? Seems to be the popular sentiment right now. The only thing is that it may catch many traders off guard if there is a sudden sentiment reversal.
It also looks like we have experienced a similar technical pattern in the past and this was just before bitcoin started a massive run up.
Just another perspective to consider.The chart is looking like we will soon find out.
datamish.com/d/...00000004/btcusd?refresh=20...
I'm wondering if most are on the short side of the trade and thinking BTCUSD is set for a downsilde? Seems to be the popular sentiment right now. The only thing is that it may catch many traders off guard if there is a sudden sentiment reversal.
It also looks like we have experienced a similar technical pattern in the past and this was just before bitcoin started a massive run up.
Just another perspective to consider.The chart is looking like we will soon find out.
BTC 0.78% is working its wat through the numerous wedge formations (depending on timeframes etc.) It is poised now to break one after the other to the upside and has consistently made lower highs throughout the past few weeks. Now we just need to see some kind of an impulse to kick off. Likely a big move will breakdown but will be another great indication of higher prices to come.