Bitcoin continues to show signs of strength.
The Short positions at Bitfinex are now higher than those that preceded the breakout which took us from 4-5k
The Long positions at Bitfinex are now the same as those that preceded the breakout which took us from 4-5k
Bitcoin continues to grind up, without sign of there being any leveraged positions being taken up...
I recently shared a post which illustrated how to use the OBV (attached - please review) which showed us how and why it is useful.
In short, it combines cumulative price direction AND volume and helps illustrate where critical relative volumous price action takes place, relative to that which has taken place before it.
In this chart we can see that once...
When you look at the whole picture, bitcoin seemingly has Demand being > Supply in the 3k range.
Granted we only have two periods now to look at but the ranges are aligned in terms of where there are clear areas of support and resistance.. aswell as those where price simple carves through.
A Bitcoin higher high above $4250 would imply a void in volume through...
Bitcoin is once again knocking at the door of $5k.
Most of the commentary is on the chart but we now also have a clear inverse head and shoulders bottom.
There may be volatility ahead - the bulls must flip previous resistance now into support and attempt to stay about across the $4055 at finex ($3950 everywhere else).
A failure here will likely see us backtest...
OBV is a lesser used, but particularly powerful indicator because it incorporates volume and price direction.
A break in the trend of the OBV has been very successful for me in the past in identifying what is goin to happen next ahead of time and is always used alongside moving averages and/or support and resistance. When i have ignored the OBV trend change and...
Would like to see a quasi Inverse H&S form here, finding support $3400 - $3500 at key fibs, which would also complete the Adam and Eve.
Volume Profile is not really there unfortunately
Fail to find support; its bad news for the bulls and we will retest lows, certainly $3200s and failing a strong reaction we will go deep into $2000s.
Is this giving us a clue as to what is going to happen with this market?
Something im paying particular atttention to.
LTC breakout (halving led) happened 2 weeks before Bitcoin.
LTC double bottom at 20$? BTC 3k? :)
Hello – This is what im seeing with BTC at present.
Bitcoin continues to consolidate;
Bounces off prior support yielded a c.61.8 recovery through consolidation, being capped by what is now solid declining resistance >1 year.
The consol. Occurring at 3k is showing similar behaviour to that at $6k, the corrective period so far in 2019 is the least severe in...
As described on the chart, we are caught in no mans land, not very good place to be trading, particularly when you are battling bots.
Much easier to trade the outcome of the break rather than try to second guess it.
Im still overall bearish but aware we may need to go higher before we go lower.
It will be brutal to go up towards 4k and then fall straight...
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.