jamesedit3
Short

BTC Shorts are telling us to sell!

BITFINEX:BTCUSDSHORTS   BTCUSD Shorts
Everytime BTC shorts enter this region, we get a dump.
once a pattern is "clear"...
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every pattern is eventually broken
+2 Reply
Thanks for posting the nice graph. I noticed that too, but I think the sign might be less strong than it may initially seem;

Mid November 2017 and at the end of December 2017, the shorts came down too and in those instances a rally subsequently ensued. What's more, last weeks RSI patter actually looks more similar to the RSI patterns preceding those two 2017 situation than to the RSI patterns of the situations that you marked as "sell!" (similarity = shorts reaching low *while* RSI got back from a 50ish level)

Anyway, will be interesting to see what happens for sure.
+1 Reply
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