BTC/Open interest...Another Bear Trap?

Keep it simple guys.... could there be a equation here going for a bear Trap & new highs?

On long chart Please ignore where I wrote 10.30am because I meant 1.36pm

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Open Interest is a very powerful tool to use in particular situations.... Today it was demonstrated....

I do understand that many ignore the meaning of it...but i like to throw your way these ideas to stimulate your interest and maybe help you learn on your own other ways of trading.

Professional Brokers back in the days used it as their primary decision indicator,,, I wonder if the still do!

Keep it simple Guys!

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Look out guys!...we are now seeing the situation not ideal for the bulls.....

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Open interest has been for Professional Brokers the most reliable tool back in the Days.... because numbers are so rational ....

after 12hr we are still seeing a similar situation only another 1500shorts have been stopped...Bears are on the run !!
In my opinion its time for distribution before chasing the 5750 target!!

Market cap needs fresh money and not exits from the altcoins to feed this Train which will turn into a bubble if it keeps eating up his own ecosystem!!

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BTW....Sure was a freakin Bear Trap!!

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open interest on the downside for
longs and shorts... looks like at these levels everyone is getting out of the market and uptrend close to end the move...

Btc at 5600

... as per my other study we still could reach 5750 level...