This is a graph of Bitcoin Longs - Bitcoin Shorts on Bitfinex.
See the zero line a well.
This year has been brutal for bitcoin traders. The short orders have been squeezed and now the long orders and at all yearly highs. The break above $12,000 was a significant psychological push to Bitcoin's price.
Now the price has broken down below the 200-Day Moving...
The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.
If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 10000.00
• Take Profit Level:...
bitcoin shorts have the upper hand at the moment. I believe bitcoin longs will try to break through resistance but will get rejected this time around giving shorts an opportunity to profit before a turnaround.
bitfinex reports overlapping 67% shors decreases ironically alongside downside moves in price. ive been saying this is a manipulated market since parabolic uptrend... bitfinex and tether are the ones doing it.