#Bitcoin
#BTC
#BTCUSDLongs
In the first picture, you can see the number of long positions opened at Bitfinex exchange. as you can see the number of long positions is consolidating in a narrow falling wedge channel (yellow triangle), so we expect a breakout soon. one more thing that confirms breakout is RSI divergence.
but you may ask "how does this affect bitcoin price?!", for the answer I recommend you to look at blue flashes, as you can see every time that number of long positions reacted its trendline, Bitcoin started an uptrend.
I think there is no indicator that can show you the exact bottom of an uptrend like this!
I appreciate seeing your comments and thoughts,
#BTC
#BTCUSDLongs
In the first picture, you can see the number of long positions opened at Bitfinex exchange. as you can see the number of long positions is consolidating in a narrow falling wedge channel (yellow triangle), so we expect a breakout soon. one more thing that confirms breakout is RSI divergence.
but you may ask "how does this affect bitcoin price?!", for the answer I recommend you to look at blue flashes, as you can see every time that number of long positions reacted its trendline, Bitcoin started an uptrend.
I think there is no indicator that can show you the exact bottom of an uptrend like this!
I appreciate seeing your comments and thoughts,
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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.
Disclaimer
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.