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BTCUSDLONGS trade ideas

What can we learn from the bitcoin bulls? What's up everyone, YoungShkreli here If you'll compare this chart to the shorts chart you'll notice that people are longing more and shorting less. This tells me that there is going to be fuel for a move to the downside (liquidated longs) and that my followers and I might just be early to a massive fall. I'm a bit surprised that more people aren't shorting given the price action. I can't imagine why the bulls would be feeling confident. If you know me, you'll know that I am contrarian in the markets and so I love to take bets against the majority when I think they are wrong. You will always be safest doing that. That's it guys. Short, sweet and to the point. Make sure to follow me if you aren't already and give my work a like if it helps you. Good luck everyone, -YoungShkreli
BITFINEX:BTCUSDLONGS
by CantorTechnologies
6
Time to long ALTS??? You may be surprised by this.I love finding patterns ... most traders do. I think I found a gem here. The top line is BTCUSD open long positions on Bitfinex. Consider it the volume of BTC that is being longed on Bitfinex. The bottom waves are the relative USD price for some major alts (ETH, IOTA, NEO and EOS). I could add more, but you get the point. Other than EOS which went gang busters ahead of main net launch, the other three follow the same trend, which has been summarized in black ink. Do you notice, what should be slapping you in the face? Yes, as BTCUSD longs react, the alt prices react opposite. This simply depicts the normal BTC bull cycle ... BTC is about to go up, so people long, and they cash out alts (or trade alt:btc pairs) to long more BTC, resulting in alts bleeding (last week). BTC reaches a consolidation level, and BTC longs start taking profit. Traders see BTC is not going anywhere, but the alts are cheap ... so they use that cash to long alts. Alts BLOOM. Alts exhaust their rally, and start going down ... tell tale sign of an impending BTC dump. BTC dumps, everyone including Rover shorts BTC. Go back to step 1. Notice, BTClongs are closing out in a serious way on Bitfinex. This could mean we have entered a new phase in the cycle. The phase where BTC profits go into alts, the "Alt Bloom" phase. Let's face it, alts got their butts kicked last week, and many alt:btc pairs are on fundamental support lines right now (normally a good time to buy). So as long as BTC doesn't tank over the next say 4 to 10 days ... I'm going to hold onto those alts, and take advantage of the potential Alt Bloom Phase. Good luck everyone. Remember, only a fool relies on one potential outcome. Do not use this info for financial/trading decisions. For educational purposes only.
BITFINEX:BTCUSDLONGS
by MAGICMARK
1
My prediction on bitcoin for the next few days. For those who doesnt want to read it all and doesnt see any arrows that i usually use, here are key targets. Price now - 6366 If we pump above 6400 i will try to add to my short position at 460-480, would be a great entry. If we jump from cliff and end up at sub 6200 and shorts will increase significantly - i will get a long position and prepare for a short squeeze. if we jump and just die without shorts increasing - i will probably add to my current short after we break 6200 and retest it. I dont see a single reason to go long now or add to existing short. If you want to gamble - short from 6390 might be a good play, same as long from 6290.
BITFINEX:BTCUSDLONGSShort
by DailyTradey
Longs and Shorts Reveal Bitcoin's True Intentions!Back with another analysis to complement my previous BTCUSD post. Looking first at the BTCUSDLongs chart, we can see that we broke above resistance and tested for support before moving up and then back down. This move back down has shown MASSIVE bullish divergence, both on the RSI, which has formed and broken out of a falling wedge, and the MACD. The AO has also crossed one buy signal, with another coming up. On the shorts side, we can see that the chart first tested the 1D bearish OB and was rejected, fell into the 1D bullish OB and bounced, and is now sitting in no mans land. The RSI is forming another rising wedge with bearish divergence, the MACD is failing its retest of support, and the Laguerre PPO is starting to signal oversold. My guess is shorts will move up to the 1H Bearish OB before getting rejected and breaking through the 1D Bullish OB. Together these charts paint a very bullish picture for BTC. See my other idea for my analysis on BTCUSD, and remember that this is my own opinion, not trade advice, and I'm not responsible for what you do with your money.
BITFINEX:BTCUSDLONGSLong
by gtrox115
The end of the correction COULD be nigh Hello it's Mattress Mike with a view on the next few days; Now hindsight is 20/20 and we all make mistakes, the important thing is to learn from this. This is an important consideration when reading adive of the many armchair experts calling for sub $3k on the basis that they have been correct so far. But herein lays the problem that everyone is correct until proven wrong, there is difference between correctly identifying that we are in a downtrend from identifying when it will end. But I will say that anyone who says they are certain Bitcoin is going to move as they claim, often because they have a paid subscription service and are so brilliant at trading that they really need you to give them money right now, should be treated with a healthy amount of scepticism, some scenarios are more likely than others but at this point in time a compelling argument can be made for both the bulls and the bears depending what angle you look at it. So firstly I realise that my posts recently have been very speculative, but this is the situation we are in at the moment where we can only use ifs and buts, I feel very strongly towards staying neutral and trading the opportunities in front of you so here is the current situation in my own opinion; We have a few interesting things today; Bitcoin longs in a bearish ascending wedge shown above, we have broken out but I am not convinced this will last; Meanwhile we have Bitcoin shorts in a descending wedge which looks at risk of breaking down, although again I am not convinced that this is more than a shakeout and we will see it break upwards. So on the face of this it seems clear that Bitcoin is going to bite the dirt, right? Well it's not quite that clear cut. First we need to be aware that the masses short the bottom, we see it time and time again today is no different. Therefore a final parabolic rise of shorts is to be expected. The second and more important point I want to make is the current condition of the daily view of Shorts; Here we can see a more bearish picture where we have a failed break and is looking to close on a shooting star candle confirmation, suggesting shorts are running out of steam. The above leads me to conclude that we are near at least a local bottom but that we will see one last strong capitulation first, in part my reasoning is a combination of the strong demand zone we are entering as well as the condition of shorts overall, another failure of breaking the green trend line on the chart below will trigger a lot of late shorts and this combined with the daily bearish view makes me think that timing wise it will be a Monday reversal. This is of course only conjecture without confirmation, but I don't buy the narrative that we are going to simply drop like a rock as the volume tells a different story. Despite the negative price action volume is unimpressive which tells of course that buyers have yet to step to the plate in force, but also shows an interesting picture of when the big players left the market and are waiting for the right time to re-enter. Whether this will be a large bounce or simply a resistance test is impossible to say right now, due to the trend we have to lean towards it not being, but making early assumptions would be foolish at this point in time. We have strong support at around $5,500 and again at $5,300 so my eyes will be there to see what kind of reaction we get should breakdown further today.
BITFINEX:BTCUSDLONGS
by MikeLeChat
BTC LONGS VS SHORTS- Playing heavily in favor for the bullsTiny update. Currently expecting a medium pullback on the BTCUSDLONGS as they are very very overbought, but under a very steep angle.(Positive-bullish effect on the price) When it comes to the BTCUSDSHORTS ,it's quite the opposite. The 4hr chart is very oversold, and a pull up anytime soon could happen. What can be seen as the biggest outtake from this analysis by far, is the failed cup and handle formation, which by itself it's one of the most bullish formation, and a failed cup and handle is quite a bearish sign. Anyways, comment your thoughts or if you have anything to add folks, since this is quite a short update, cheers! -Happy trading- . . . . Disclaimer: //This is not a buy or sell signal, you decide what to do with your own money!//
BITFINEX:BTCUSDLONGSLong
by step_ahead_ofthemarket