Recently noticed a pattern in the charts.
The third chart is a piece of pine script I wrote to help visualize
BTCUSDSHORTS and BTCUSDLONGS.
A drop in open shorts has been preceded by large volume pushing the price higher, likely into many stops, continuing the rally.
As you can see, after the action has cooled down price, will move to the 30 day EMA before it picks up again. Except for this last time. Price plunged under the 30 day EMA before it snapped back to the EMA. Also, the amount of open shorts on Bitfinex is the lowest its been.
This leads me to believe the cool down period will last longer than the previous ones.
The third chart is a piece of pine script I wrote to help visualize
BTCUSDSHORTS and BTCUSDLONGS. A drop in open shorts has been preceded by large volume pushing the price higher, likely into many stops, continuing the rally.
As you can see, after the action has cooled down price, will move to the 30 day EMA before it picks up again. Except for this last time. Price plunged under the 30 day EMA before it snapped back to the EMA. Also, the amount of open shorts on Bitfinex is the lowest its been.
This leads me to believe the cool down period will last longer than the previous ones.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.