This wild ride is fun and looks like it won't let me leave. I'm waiting for shorts to throw in the towel before I exit longs but they just won't do it. Shorts are at support turned resistance on our broadening wedge pattern and looks with 2x called off, maybe this will be what it takes for shorts to capitulate and give us a last squeeze (to 10k?) where we can...
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.
Will this end well ? Lack of equilibrium if you ask me
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
yes, time has changed in such a short time. Hey you have to market with the markets.
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...