Another chart. I have too many other charts to put here, which I will add in description later. There is a lot going on behind the scene. Bitmex 100x leveraged trading has had a clear impact on the cryptomarket. Other leveraged trading options at Bitfinex for alts are playing a major role and have resulted in wicks which are not ignorable. Currently the alts have too many long positions compared to shorts, where as BTC and only 2-3 others alts have more shorts than longs. Of course there are always other aspects to look at and clearly have an impact on the inter- and intraday prices.
Please leave a comment (healthy discussion please) and click on the agree button if you do agree or like this chart.
Thanks.
Please leave a comment (healthy discussion please) and click on the agree button if you do agree or like this chart.
Thanks.
Note
Bitfinex Longs vs. Shorts counts (BST 20:00 - 27/08/2018)BTCUSD LONGS – 29127
BTCUSD SHORTS – 35955 (higher)
ETHUSD LONGS – 263172 (higher)
ETHUSD SHORTS – 141613
NEOUSD LONGS – 414622 (higher)
NEOUSD SHORTS – 99552
EOSUSD LONGS – 12141437 (higher)
EOSUSD SHORTS – 8033379
IOTUSD LONGS – 22106081 (higher)
IOTUSD SHORTS – 8021838
BCHUSD LONGS – 28262 (higher)
BCHUSD SHORTS – 19651
OMGUSD LONGS – 710134 (higher)
OMGUSD SHORTS - 155737
DSHUSD LONGS – 22786
DSHUSD SHORTS – 41084 (higher)
BTGUSD LONGS – 147261 (higher)
BTGUSD SHORTS – 45339
Note
Spot the patternNote
We have a breakdown on the rising wedge now....Important dates:
CME BTC Futures expiry - 6th September 2018
SEC's decision deadline on Bitwise BTC ETF application - 7th September 2018.
SEC's decision deadline on CBOE/SolidX BTC ETF application - end of September 2018.
Note
BTC may follow the yellow brick road....Note
As long as BTC is within this channel, the expected direction is downwards....
Even if it goes up, the purple line (61.8% fib level) is the maximum upside move that I expect at this stage... unless SEC approves the ETF... in which case we will all have fun chasing the cryptomarket....
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.