CRYPTOCAP:ETH
A simple visual of what tends to happen with the LONGS/SHORTS vs Price Action
Are you able to see that the ratio is currently showing a more bullish setup that not just the bear market lows but also all of recorded history ATM...
Are you ready for what comes next...?
This is what has been on my mind lately...
Not that I go searching for it nor see it anywhere it just pops up in my mind... What do you make of this chart, longs vs shorts?
Hit like, boost, transfers, send, deposit, cash, good luck, share, comment... Enjoy!
We are going to ask some questions about this indicator - Bitfinex BTC Shorts & Longs - at the bottom...
Mr. Pips has been watching the BTCLongs and BTCShorts and is noticing some issues. BTC Longs are nearing an all-time high and shorts are what most would consider extremely low. Even the Longs are stacked the price has only slightly increased. If you've been following BTC for some time then you are sure to have noticed that the Whales love to squeeze positions...
Bitcoin Longs vs Shorts with RSI analysis
Top plot - BTC/USD Coinbase spot price
Mid plot - BTC/USD Bitfinex Longs versus Shorts
Bot plot - RSI of LvS
LvS > ~ 70 = overextended longs; potential drop incoming!
LvS < ~ 30 = overextended shorts; potential drop incoming!
Credits to Murad Mahmudov's tweet for bringing RSI of LvS to my attention.
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