How I see the BTC market developing
Updated
First -- I think TA is possible with longs/shorts charts there are active support and resistance points that may lead the btc price
second -- The top right chart is the ratio between longs and shorts... Today I've noticed increasing longs and decreasing shorts through this sideways period, today in-particular, there have been large moves in these charts and little corresponding moves in price. I'm not exactly sure how price can be reacting so little to sharply decreasing shorts and increasing longs but it is Bitfinex so I'm sure there's some shady shit going on in the background.
I don't see bitcoin having another major bull run for a couple years but I do think price has found a bottom. I don't see predictions for 1500 or 2000 as being viable levels that btc spends a prolonged amount of time. Hashrate is increasing again so this is a good sign that the mining purge is over.
Only way I see it possible that there is no move in price despite changing leveraged longs and shorts is a whale has an insane btc wall that he's buying into (convinces others to sell their coins so he ends up with net profit with price increase)
second -- The top right chart is the ratio between longs and shorts... Today I've noticed increasing longs and decreasing shorts through this sideways period, today in-particular, there have been large moves in these charts and little corresponding moves in price. I'm not exactly sure how price can be reacting so little to sharply decreasing shorts and increasing longs but it is Bitfinex so I'm sure there's some shady shit going on in the background.
I don't see bitcoin having another major bull run for a couple years but I do think price has found a bottom. I don't see predictions for 1500 or 2000 as being viable levels that btc spends a prolonged amount of time. Hashrate is increasing again so this is a good sign that the mining purge is over.
Only way I see it possible that there is no move in price despite changing leveraged longs and shorts is a whale has an insane btc wall that he's buying into (convinces others to sell their coins so he ends up with net profit with price increase)
Note
When I published this idea I was not expecting the ratio between open shorts and longs to move as quickly as it has. Moreover, I definitely wasn't expecting price to drop. Still expecting up moves in price but this is insane. I don't understand the physics unless literally, someone is covering their shorts into their own sell wall. Under this scenario I am bullish and price movements make sense. If you have another explanation for how this is possible please let me know I would benefit greatly from a different viewpoint that could possibly fit this scenario. This kind of thinking is necessary to understand how these markets are controlled.Note
Bitfinex closed for some hours tomorrow. I guess Mr.Whale is planning on liquidating some folks while they are defenseless.
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