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...
looking at the chart of BTCUSDSHORTS ratio Against BTCUSDLONGS we are seeing that it is pretty much where we should long! because 60 percent of people are in short (on bitfinex).
also longs it self are very low compared to 2018 market(i will add that to this idea later).
so looking at this data and using them as indicator was really helpful to me but in this...
I always like to use different technical analysis to come up with new ways to analyze this market. Here, I used an EMA ribbon onto a ratio that links the amount of open longs to open shorts on Bitfinex.
Basically, BITFINEX:BTCUSDLONGS/BITFINEX:BTCUSDSHORTS outlines the instantaneous sentiment of the market: basically, it tells us what the market thinks about the...
You will note the margin long and margin short contracts are at similar levels to what we were in 2017 when we were at a similar price range in 2017.
Feel free to watch my previous video on BitFinex margin longs and shorts, titled, "Margin Shorts Need to be Spooked." It's linked below.
Bitcoin continues to show signs of strength.
The Short positions at Bitfinex are now higher than those that preceded the breakout which took us from 4-5k
The Long positions at Bitfinex are now the same as those that preceded the breakout which took us from 4-5k
Bitcoin continues to grind up, without sign of there being any leveraged positions being taken up...
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.
As we can see in the Btc long positions chart we are heading to a very critical zone and support line aroing 18 k longs which is the lowest line since Dec 2017.
As we can see in the other wing the Btc short positions chart went very high close to a very strong resistance line around 30 k shorts positons...
AS seen in the chart we have a large divergence with the price of BTC vs the shorts of BTC (Shown with Blue Fractals). The last divergence resulted in a large dump.
Longs have had a small run with the price not moving up very much. Longs have been on a cycle of an uptrend then a dump thereafter, also resulting in a dump of the price of BTC (shown with green...
Currently expecting a medium pullback on the BTCUSDLONGS as they are very very overbought, but under a very steep angle.(Positive-bullish effect on the price)
When it comes to the BTCUSDSHORTS ,it's quite the opposite. The 4hr chart is very oversold, and a pull up anytime soon could happen.
What can be seen as the biggest outtake from this analysis...
Here is a comparison of BTC long (main chart) vs short (purple chart) positions.
It's clear that there are almost twice as much short positions opened compared to longs.
If we look it as it is, that could mean this is the start of some bearish movement.
But there are 2 indicators showing that bears will change their mind soon.
MACD on longs crossed showing...
I thought we could have a further leg down to $4,830~ level but it seems we are gonna close the 1M candle above $5,000 confirming this run is real and not a fakeout of bear market.
Wear your seatbelts and enjoy this ride because is probably going to be the best ride of your life!