Some TA on the number of BTCUSD shorts on bitfinex
We do technical analysis on prices but let's have fun and also do it on the number of shorts on bitfinex.
Bear flag has recently formed (shorts being liquidated) on the BTCUSD Shorts chart. Remember that we are talking about the number of shorts, not the price of shorts.
Last time bear flag appeared was in early Feb and resulted in further downside action. We could anticipate some more retracement with a breakout of the broadening wedge to lower numbers in order to reach the 200 days moving average. That would also form a nice ABC corrections for Eliott wave's theory enthusiasts.
So basically the price of bitcoin will moon soon (lambo soon). No shills here.
Bear flag has recently formed (shorts being liquidated) on the BTCUSD Shorts chart. Remember that we are talking about the number of shorts, not the price of shorts.
Last time bear flag appeared was in early Feb and resulted in further downside action. We could anticipate some more retracement with a breakout of the broadening wedge to lower numbers in order to reach the 200 days moving average. That would also form a nice ABC corrections for Eliott wave's theory enthusiasts.
So basically the price of bitcoin will moon soon (lambo soon). No shills here.