There are about 3 times as many longs as there are shorts.
In the 2018 bear market, the 3.1 ratio has been the top, in the bull market, this ratio has been the bottom.
Current shorts feel like a proper reset for a later continuation of the bull cycle.
I am expecting moves to the upside when the Bitfinex whales are going to send it.
iExec has had amazing gains last days. Current resistance is a macro down-trend. If we break these levels, RLCBTC gets even more bullish. But this seems to be a logical place to cool down and consolidate before breaking to the upside.
In the last bull run temporary highs topped around the 2.4 Mayer Multiple. And the final blow-off top, topped at the 3.5 MM.
So far this run it has played out identically.
The current consolidation has put the btc price below the 1.7 MM again, so we can go up for another leg up.
The current 2.4MM is around 92k. With a still rising 200MA 100k is not unlikely as...
We are currently held by the 2.4 Mayer Multiple. This is very very bullish. The 3.5 Mayer Multiple was a level where BTC has topped out before.
I added linear extentions of the current mayer multiples. these are way more conservative that what the mayer multuple will be, because the 200MA is curving up, i.e. not-linear. If this continues as it is, a summer target...
The 2.4 mayer multiple has in the previous bull cycle been a good point for the Bulls to pause and consolidate. As linear (i.e. conservative, because it is more likely to curl up) extention of the current 2.4Mayer Multiple trajectory can get BTC to 34k in January, or at least 39k in March
The 15.8k/16k level is previous resistance flipped for support. Also around the .618 fib level of the current 10-20k rally.
There is too much interest, hype, and necessity given global monetary policies, to let the price drop too far.
To know whether you are in an altseason, see if the total bag of alts (total2) in comparison to BTC is gaining.
Only in an uptrend you can speak of an altseason. Then the alts in total are gaining in sats.
After a very long downtrend in the last weeks (-62% in the last month) REN has had a few upticks. Is this forming a triangle wich a chance to break up? Or are we still in a downward channel and do we have more to go... Then aim for 337 or 310 sats.