Footprint of churning - Bitcoin Margin Trading Pattern to note
Updated
There are waves of selling and re-accumulating - and when someone is closing their longs progressively only to re-open them you can see this. Bitfinex BTCUSD - longs graph is always interesting to me. Note this last little capitulation zone - perhaps out of boredom/fear. A new gradient perhaps or the previous trend line stays intact. An algorthim that is building a position long term would have point where it flipped and this count of longs may be reflect that.
Note
Bounce at lower trend line seems confirmed now.
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