Bitcoin is still under the clouds showing signs of reversal when loss of strength. Lots of strength tightening the price action leading to the rise and recovering in the alt market. Los Angeles 2:30PM
What to look for:
RSI needs to break above 50 for a trend change and 60+ for a bull run
Price action needs to break through $16000 and $17000 to stay above the clouds.
BTC showing signs of weakness in volume, squeeze, and histogram on MACD.
BTC count nearing to end 9th candle.
Possible reversal to the downside.
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4H timeframe
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If price action does not break to the upside, we might end up seeing a week long to one month bear.
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I like to look at LTC and XMR to see if there are any downtrend signals. Last dip, LTC & XMR moved to the downside first with BTC following shortly after.
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FUTURES LIQUIDATED LONG POSITIONS lots of it. Looks like its going down.
What kind of info are you drawing from whale calls? I see short and long positions being liquidated, doesnt seem to tell me much?? Thanks
WiThConFi
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@GuapoLobo, I look at the frequency of the contracts being liquidated. The more long contracts liquidated the more likely btc price is already or heading downwards. The more i see the opposite the more likely i can assume where the btc price is headed. Not a perfect indicator because I've seen short and long future contracts go up at the same time but its good indicator to know how people are margin trading the price of btc.
primereed
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thank you. I sold recently, you saved me from losing more
asebe
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Hi, thank you for your anylisis. Can you explain your last comment a Little bit more in detail? Thank you