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.
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.