BITCOIN: Market Makers KEEPING the price CHEAP. (BTCUSDLONGS vs BTCUSDSHORTS)
Analyzing trends in the positions taken can show relevant info about the foreseable future.
Specially after a major fundamental week (consensus week)
All factors are suggesting major moves pretty soon. However, someone is keeping the price low for a reason
(still accumulating?)
2 hr chart: BTCLONGS
Check out the trends and the breakout
Overall BTCLONGS is looking bullish. This means the amount of long positions is increasing over time.
2 hr chart: BTCSHORTS
Check out the GAP and how price is back into the major bear trend (prior to the massive end of year's run)
Overall BTCSHORTS is looking bearish. This means the amount of short position is decreasing over time.
Conclutions
There amount of long positions is increasing while the amount of shorts is decreasing.
This means there is new money pooring into crypto even though the price doesn't reflect the increase in demand.
Some explanation will be that certainly at current Bitcoin levels most shorts are taking profits (which means buy back)
Do not forget that miners need a minimum bitcoin price to keep operating cash flows positive.
Full Size charts: Open in new tab
Exactly! I feel like the fact that not enough people look at those charts gives us a significant advantage in long run. I might very well be panic selling a lot of my alts right now, if not for them.
I posted this on steemit/twitter probably as you were making this post:
Posted using Partiko Android
Since it insisted on advertising itself...
This screenshot of Partiko I posted on our twitter features this post :)
Thanks for the support @idcinc
Looking at BTCUSD LONGS/SHORTS is hard to interpret yet is very useful. Don't sell your alts , they will likely worth x20 in a few months!