Footprint of churning - Bitcoin Margin Trading Pattern to note

There are waves of selling and re-accumulating - and when someone is closing their longs progressively only to re-open them you can see this. Bitfinex BTCUSD - longs graph is always interesting to me. Note this last little capitulation zone - perhaps out of boredom/fear. A new gradient perhaps or the previous trend line stays intact. An algorthim that is building a position long term would have point where it flipped and this count of longs may be reflect that.

Comment:

Bounce at lower trend line seems confirmed now.