BITCOIN (BTC/USD) MARGIN LONGS Just Made a HUGE Move!Hey everyone, hope all is well!
I have found something quite interesting! Has Bitcoin tipped the bearish scale and now become bullish?
Bitcoin Margin Trading Longs (BTCUSDLONGS) has completed two key technical bullish patterns:
1. RISING WEDGE FORMATION BREAKOUT
Bitcoin Longs has broken out of a perfect rising wedge formation (scroll into the chart). We are currently on the retest/retracement and looking for a heavy move up now.
2. BULLISH BREAKOUT OF STRONG RESISTANCE LEVEL
Bitcoin Longs has also subsequently broken out of a resistance level in which it was struggling to breakthrough (tested twice to the upside). It has closed on the 4H outside of level. We should expect a bullish move up.
With Bitcoin Longs going up, and Bitcoin Shorts going down, we can use these tools to help determine the scale of buyers/sellers in the market. Comment below if you have any further idea.
Bitcoin to go to 35K and redistribute supply, or to 40K to do the same. Let's be safe here.
Love, peace, Seb.
Btcmargin
BTC Short-term Long Scalp IncomingFirst of all, please support our work by smashing that like button or following! These really help us to reach more traders like you!
The margin market drives lots of crypto movements. Since whales could profit from opening both spot and margin accounts to facilitate pumps/dumps, and only minority wins in this market, counter trading the general margin market bias has worked well in the past.
Currently, both Bitfinex and BitMEX show bearish bias, and this means we are ready for a long scalp. However, several other things still need to happen for the setup to go through.
1. Short-term open interest needs to pick up (otherwise there’s no whale in play, simply retail against retail. A very unpredictable situation.)
2. I would like to see the Bitfinex margin trader net position chg picks up and finding support at higher RSI levels.
3. 4hr BTC RSI has dropped below 30 once. Since BTC often revisits RSI below 30 region twice (often wave 3 and wave 5), another potential leg down is possible. When that happens, both Bitfinex and BitMEX margin traders likely will maintain the bearish bias.
Don’t get bear trapped and good luck!
Do you think we are going to drop to 8k anytime soon? Are you a short-term bear or bull? All thoughts and critics are welcomed!
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It is ready for bullish trend?lots of people focus on every charts in every markets to find good solution. some of them analyze BTCUSD long or short charts to find out how capital flow.
It is not clear chart. it is best chart to see how Tether accumulated in every Bull & Bear trend. On the image of BTCUSDLONG you can see several moments which trends is against real charts. because people had margins false & huge amounts of USD/USDT flow on specifics place. In two times ago, after accumulating capital, chart was ready to start UP trend.
NOTICE: every charts have clear & dark meanings. Be careful on this new trend.
Trend is Dancing on Bitcoin. First UP then DOWNVfi has crossed down on 1hr and severely on 15min. Wave-pm is showing where the trend is going. its gonna compress upward to 10740-10820 and go sideways before being ready to dump. If it doesn't go sideways and breaks into 10.9k then we'll see 11.2k or so for rejection
I'm holding out positions for now, not worth the risk/reward
not until the big short