BTC/USD LONGSTesting/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
It looks like we're neutral and people are scared to long, but from what I see, we're near the bottom. If the count is right it's only a matter of time before more people long. We already hit the .382 fib and a small possibility to go down to the .238. About 75% chance to go up and 25% to go down. Anything goes in crypto. BTC's movement is dependent on margin positions cause that's where the money is made lol. Don't forget to use a stop loss and dollar cost average down; not financial advice.
BTCUSDLONGS trade ideas
BTC long/short ratio down 75% since correction startedBTC long/short ratio is down 75% and sitting on support area. It look like short squeeze is done but ratio is still 20:1 to longs.
One final squeeze to clean longs wouldn't be so surprising considered that ratio is still to high.
Not so long time ago it was 3-4:1.
Short 🔴 Price will go Down, Bulls will Buy LossShort 🔴 Price will go Down, Bulls will Buy Loss
SVM (Support Vector Machine) forecasts BTC/USDT dump.
AI predicts traders will try to buy the dip.
A liquidation snowball effect could create a fast & volatile crash.
After the shakeout, the new ATH later this year isn't excluded.
selby_exchange - Bitfinex BTCUSDLONGS vs. USDT MarketCap selby_exchange Fundamental Metrics Chart (1W)
Comparison of the Bitfinex BTCUSDLONGS volume to USDT Market Cap and Bitcoin Price
Helpful links for Bitcoin traders:
stats.buybitcoinworldwide.com
btc.com
datamish.com
app.laevitas.ch
www.bybt.com
Selby finding creative patterns in charts on Tradingview
Not advice for investing, but I am one to watch
Rebellion=Change=Future
Market Pivot or Market Manipulation? Why not both!The elephant in the room first - Why do I keep bringing up these charts? Well they are acting a weird way. and weird stuff tends to mean something is happening outside of the norm.
We've started to see a rapid decline in active shorts on Bitfinex, which coincides with a bounce in btc price.
If we look back at the last two spikes - We see clear patterns in each. It seems once the direction is decided it has been more or less fully playing out with very little in the way of overall variance.
That said, we have a sample size of 2 and they've gone different directions each time: not exactly the most definitive scientific study I've ever seen without a doubt. But there definitely seems to be something going on here.
The hyopthesis here is that we'll see a movement play out similar to last time. Though with seeing longs start to climb now, it could be a very interesting out come.
Bitfinex BTC Long/Short ratioThere are about 3 times as many longs as there are shorts.
In the 2018 bear market, the 3.1 ratio has been the top, in the bull market, this ratio has been the bottom.
Current shorts feel like a proper reset for a later continuation of the bull cycle.
I am expecting moves to the upside when the Bitfinex whales are going to send it.
Bitcoin traders are very, very longThe amount of leveraged long interest in BITSTAMP:BTCUSD is at a record high. There is a tremendous amount of Bitcoin on leverage betting on Bitcoin rising. This also means that there is a large potential for a cascade of liquidations if price begins a down move.
I put the probability at 50/50 up or down outside of this consolidation. The character of the breakout is something that I have the highest of confidence... it will be massive. The side with the greatest reward to risk at this point is the one that stands to trigger the most liquidations.
[Bitcoin]: Somebody on Bitfinex is manipulating whole market!Never before Bitfinex shorts were as high as on the previous 2 peaks. Even when we had a big Crypto Market and BTC dip this year!
Thus somebody realized what kind of power does this graph hold in the eyes of traders and their followers.
So, what do they do now? They push shorts really high in an extremely short time frame spanning from few hours to few days and it's one entity most probably only!
What happens next?
After the shorts start to go up we sooner or later dump! (red)
After the shorts go down we sooner or later pump! (green)
After shorts reach peak there is a strong trend coming! (blue)
Most probably they are influencing BTC to stay in the channel and not break up or break down.
That's why it did not happen as suggested in previous posts since that kind of entity can put a position worth few thousand of BTC in order for this to be seen!
Why would somebody close them so fast and how can that entity do that on the market is probably a rethorical question but don't forget - 10000 BTC is worth around $300 mio!
Since BTC is moving down already we can expect further dip and most probably then the bounce from support channel.
Bitfinex Margin Long ChangesBrainstorming
This is a back-of-the-envelop analysis of the correlation between Bitfinex margin long positions and BTC price. My intuition is that a more disciplined analysis of Bitfinex margin positions, crypto exchange flows, margin funding rates, and changes in something like the SPY ETF could yield a predictive model.
There appears to be some relationship between these two data series, but only when there is a large change in the Bitfinex margin positions. In 2021, generally, margin longs correlate with BTC price.
If margin longs were to decrease, BTC price would likely fall due to selling pressure.
Again, this is a back-of-the-envelop analysis. Broad market sentiment likely influences the Bitfinex long and short margin positions. So, the correlation will not be stable. Watching changes in the Bitfinex margin longs may help forecast BTC price... but this has not been proven in this analysis.
I do have a bearish bias at this time.
More to come as I continue to think about this. Thoughts? Comments?
BTCUSD Longs - Looks scary as hellSo... everybody is cheering up about the retracement BTC made from 28k to 34k, yet they don't see the avalanche coming.
1) BTCUSD Longs is at ATH
2) there is a clear bearish rising wedge pattern forming
3) a clear RSI bearish divergence
2) BTCUSD Shorts fell with no price rise in BTC whatsoever
(not trading advice, I'm not your financial advisor, do your own research)
BTCUSD long1) BTCUSD Longs are at record ATH... and I remain bullish!
2) BTCUSD Shorts are at halfway ATL
BTC is on a critical support. But one side is destined to lose and get burned... which side are you taking?
PS BTCUSD weekly chart has closed with a green candle ever since May 19th dip. Will this week's chart turn from red to green (north of 41k), to will it be red?