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...
Last four times when margin positions on bitfinex were that low major dump followed 30-40%. Will pay close attention on LONGS and SHORTS in coming days.
Shorts positions look like they have broken down from their year long wedge and have backtested it so I would expect them to drop soon, which should be from BTC rising. This indicator can throw fake outs, but breaking down from such a long wedge should be significant.
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.
Hello subscribers and traders!
Over the weekend, the situation has not changed.
We are still under strong resistance at the level of $4300-4400. Ideally it would be if a false breakout of resistance was formed, there we would be able to add a short.
Today I present to you for comparison two graphics that clearly indicate when you need to open the short and long,...
BTC showing some obvious and not-so-obvious signs of bullisness.
Bitgur displays open interest for CME and CBOE traders (citation at end of report). The smaller traders are long while the larger traders are short. This makes sense as the larger traders need more time to enter and exit positions in such a small market, so they are anticipating a later move down....
BTC Shorts have dropped (indicating that traders expect BTC to increase in value) into an area that for exactly a year now has provided both strong support and a good indicator that BTC is actually about to fall in value.
BTC Shorts went below 21500 only three times last year... in May, July and November - when traders bet that BTC would increase in value....
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