Shorts have been adding on the way down whilst longs have been getting rekt. I think too many people are trying to leverage trade who really shouldn't and are about to get rekt.
We've previously had a spike to 0.6 ratio and got a 8-10% squeeze/upmove getting the ratio back to healthier levels.
We're in an abc correction after the 5th wave of btc completing so a small bump upwards seems very likely completing wave b.
And we have 1h bullish divergence
We've previously had a spike to 0.6 ratio and got a 8-10% squeeze/upmove getting the ratio back to healthier levels.
We're in an abc correction after the 5th wave of btc completing so a small bump upwards seems very likely completing wave b.
And we have 1h bullish divergence
Comment:
The push down didn't go below resistance which could give us the momentum we need to go up from here. However if we do break I'm getting out of the trade.
just trying something out. More as a journal to see if it pays off to look into it.