ETHBTC likely going to BB Lower Limit due to long squeeze

First of all, the divergence primer. These work on both bound and undbound oscillators.
Classic Divergence (Trend Reversal)
Bearish: Higher highs on price action but lower highs on the indicator
Bullish: Lower lows on price action but higher lows on the indicator
Hidden (Trend Continuation)
Bearish: Lower high on the price action and higher highs on the indicator
Bullish: Higher low on the price action and a lower low on the indicator.

The Money Flow Index, RSI, and MACD all show hidden bearish divergence. This divergence also occurred at the upper limit of the bollinger band, which shows where we should expect 95% of the price action to occur. Being at the top of the BB, with so much bearishness in the indicators, is a clear signal to short ETHBTC.

Additionally, ETHBTC hit the top of the normal ichimoku cloud and the ETHBTC margin chart shows we have 436K ETH long and only 9k Short on bitfinex.

The ETHUSD margin chart shows 497k ETH long and only 8.7k short

ETH has about 107M circulating supply, according to coin market cap, and on just one exchange 1% is in long and less than 0.01% is short. This suggest a long squeeze on ETHBTC and ETHUSD.

Please see my linked comment on ETHUSD to see a trade I did well in, and closed early due to the developments in the oscillators and margin charts.

Comment:

Here is an update of the main chart. The Bollinger band, MACD, and MFI Fast/Slow both are giving us repeat signals, and the RSI actaully appears worse, considering we went to overbought conditions.

Further, the disparity between ETH long vs. Short against BTC is somewhat maddening. The longs appear to be begging to get squeezed out, and given the disparity of ETHUSD Longs to Short there is going to be a lot of eth sold here shortly (heh, forgive me).

This is not something I can substantiate now, but my gut is telling be ETHBTC will behave as below, with the price action running down the difference between the 2nd and 3rd st. dev bollinger band, as it did in Q3 2016.

My gut feeling is probably wrong though, because in Q3 2016 bitcoin was going up while ETHUSD was going down. But even if we don't reach the 3rd st. dev, I think we will be sliding down the 2 st. dev for quite a while.