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...
Look at the ratio between longs/short over time and take a look at Bitcoin over same time.
In my opinion we have legit bottom at 4k area, built in march 2019.
From 4k and up to 14k, there is a great mix of real demand, and lot of long- and short gambling.
In this range of price, we can se four bigger actions (compared BTC with Long/Short ratio) and how price...
I putted some circles around areas that Bitcoin shorts and longs ratio come to a point that make a unbalance force between bulls and bears.
as you know market is the power translation of supply and demand or simply buyer and seller. any other fundamental data is being translated to these two things.
people have two options to buy or to sell! we either!
Title says it all. I can't see this being anything close to a top as long as sentiment stays bearish. Probably wise to hold until this wedge breaks up and bullish sentiment is out of control because we were in a period not long ago of extreme bearish sentiment. I think it's a blessing people are shorting this rally, just hold.