Market is in a indecisive position that might trigger an upside
Market is in a indecisive position that might trigger an upside move a potential 11.557 Usd target for BTC. That move also has the potential to trigger the bigger frame symmetrical triangle that targets 25.000 in turn.
Altough, it is obvious for some that there are two symmetrical triangle formation in one another. While smaller is targeting 11.557. That event also has the potential to trigger the bigger triangle.
On the other hand, as we are at the top of the bigger triangle, there are traders and investors also expecting to have a local top, and a move to down side to hit the lower band of the triangle.
I suspect those to possible scenarios make the market totally indecisive about the direction of the market; that indecisiveness is reflected in the total leveraged positions of BTCUSDLONGS and BTCUSDSHORTS.
During the history of this indecisiveness index, when it hit this low, it triggered a significant upside move. Also considering the market sentiment of different sources, the main sentiment lies between fear or cautious neutral; it won't be wrong to say that market is mainly under positioned for an upside move, that might be perfect fuel for an upside move
Altough, it is obvious for some that there are two symmetrical triangle formation in one another. While smaller is targeting 11.557. That event also has the potential to trigger the bigger triangle.
On the other hand, as we are at the top of the bigger triangle, there are traders and investors also expecting to have a local top, and a move to down side to hit the lower band of the triangle.
I suspect those to possible scenarios make the market totally indecisive about the direction of the market; that indecisiveness is reflected in the total leveraged positions of BTCUSDLONGS and BTCUSDSHORTS.
During the history of this indecisiveness index, when it hit this low, it triggered a significant upside move. Also considering the market sentiment of different sources, the main sentiment lies between fear or cautious neutral; it won't be wrong to say that market is mainly under positioned for an upside move, that might be perfect fuel for an upside move