Total leverage exposure is starting to reach towards lows which have been seen at each previous top preceding a dump in this market.
Longs have increased from 20k to 30k from $6k
Shorts are reaching the 20k lows which we have seen in advance of each previous dump
Conclusion – Retest of 3k coming.. eventually it will be but prly need to clean these longs out first.
I putted some circles around areas that Bitcoin shorts and longs ratio come to a point that make a unbalance force between bulls and bears.
as you know market is the power translation of supply and demand or simply buyer and seller. any other fundamental data is being translated to these two things.
people have two options to buy or to sell! we either!
On this Chart, I look at the charts of long and shorts porisitons on the Bitfinex exchange.
We can see that a large number of short positions are now on the market, most of which should close when we are reached first resistance.
There are two reasons for closing the shorts:
The first one is closing short trades with a large upward...