Long/Short ratio in $BTC almost at ATL. Countertrade the herd?
The amount of longs/shorts on BTC is almost at an All time Low since recorded history. the All Time Low is on 24st 2017. That is just after BTC went from 5k to 3k, bounced and made a higher low. After that BTC steemed to 20k in almost a straight line probably getting so many shorts rekt.
In the next chart the red line are the shorts, you see they got rekt and than bounced to a new high only to get more rekt after that
Shorts itself are not at an All Time High but are close. In the next chart we can see first time down to 6k longs where at an All time High. 2nd time we went to just above 6k in april longs where again at an All Time High. Now again in that 6k region longs havent been this low since januari 2018! Shorts had their All Time High in april, what happened, price went up. Now shorts are in the All Time High region for about 2 months.
As some wise men say, its best to countertrade the herd, right now looking at the above info what direction do you think that is?
In the next chart the red line are the shorts, you see they got rekt and than bounced to a new high only to get more rekt after that
Shorts itself are not at an All Time High but are close. In the next chart we can see first time down to 6k longs where at an All time High. 2nd time we went to just above 6k in april longs where again at an All Time High. Now again in that 6k region longs havent been this low since januari 2018! Shorts had their All Time High in april, what happened, price went up. Now shorts are in the All Time High region for about 2 months.
As some wise men say, its best to countertrade the herd, right now looking at the above info what direction do you think that is?
Comment:
p.s. If its not clear for you, Just looking at the info above I think its likely we go up from this level, at some point in time. Might only be after some more sideways action (couple of months) in a tight range of $1k or so, nice and boring market.. thats what the market needs after a bear market, get nice and boring before a new bull market starts.