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RE: Bitcoin Technical Analysis: BE CAREFUL
Hey there Workin, I agree in principle with the advice however I am curious where you saw the longs stacked up, this is what the longs looks like on Bitfinex:
Bulls not exactly going to town... did I miss something?
Hey my friend. I showed you in the video...but maybe you missed it. The second the spike in price happened, longs spiked. They've since done a 180 degree reversal settling at the origin. Longs never outpaced shorts. This was a warning to those thinking of going long at the time. After that spike, my twitter DM's blew up with people asking me if "this was it". I made this video in response.
Here's the longs chart showing the initial spike: