Long/short ratio was in line with the price trend since mid-Sep (in the available data) but since the last week of October, there is a significant divergence.
This means even the price increases, the long positions are not rising that much.
I have no clue where this train stops but in my experience watching SHORTS accumulate the last 2 days means more short squeezes to come. SHORTS are at a previous spot of resistance and probably about to get REKT more. Good luck.
Over the last few days the amount of longs has been dropping while people are accumulating shorts, usually a sign were about to make some new highs. Looking at BTCUSDSHORTS we can see short interest has formed a wedge right into former support now turned resistance. Looks like a good place to get long for the upcoming "melt up". Good luck.
Point : I just learned about the Bitfinex LONGS/SHORTS so take this analysis with a grain of salt but I think the shorts are about to get rekt. Besides from our earlier chart where we saw RSI is breaking out on the Weekly BTC chart, on this chart shorts look like they are in an broadening wedge pattern which can be a top. There also looks like the wedge is...
Keep it simple guys.... could there be a equation here going for a bear Trap & new highs?
On long chart Please ignore where I wrote 10.30am because I meant 1.36pm
BTCLONGS CHART ON BFX
shows decreasing longs
double top on right side
it broke the valley hence the crash
massive head and shoulder
eiffel tower in between m
means long ar elosing strength as day passes.
Target $1700. It's been a long time since I can recall seeing BTC slide down the lower Bollinger Band on the daily timeframe. It's also been a long time since I've posted a short trade for BTC.
I expect this is just a correction on much larger timeframes.
I really only publish charts so I can say "I told you so" to IamNomad later on.
The general idea is that price quickly retraces 50% of the dump while consolidating on RSI = 50. Also, watch for cloud support to hold until the bearish TK cross (Red over Green). A daily candle close inside the cloud with a bearish TK cross would be a reliable signal the fractal has...
I had this stockpiled for the occasion (but I was very reluctant to believe).
Probable tops seems to be: 900 USD (index/spot) and 950 (quarterly contracts), excluding possible over-shots (especially on futures where the premium limit will be roughly 80-90 USD above the index by then).
I do not like the charts for less than 2 hours. But in a 15-minute TF I observed the following pattern to draw their conclusions.
In the RSI I drew two lines generating a range between 58.7371 and 29.3487 with an average (dotted line) of 43.6458.
When it is in a trend bull moves leaning on the average of 43.6458, when this bear, the opposite.
When it breaks the...
The BTCUSD index chart here depicts an interesting price pattern, a cup and handle in the making.
This pattern usually is powerful, specially when the signal coincides with a 'Time at mode' trend signal and is coherent with all the technical and fundamental observations we can make here.
I don't personally use it for trading decisions, but it's certainly visible,...
