Bitcoin Price Prediction
Whale Opportunity
Opportunity:
Technical analysis had led many traders into short positions. With a large amount of open shorts (red line) and few open longs (green line), conditions are set for volatile price action. All it would take is a a whale to push price high enough to trigger a cascade of stop losses.
With that in mind, I will be watching for another opportunity for the whales.
The set up could be similar but opposite of the previous one. If the amount of open longs balloon because of technical analysis, this could create an opportunity for volatile price action. This time downwards.
Opportunity:
Technical analysis had led many traders into short positions. With a large amount of open shorts (red line) and few open longs (green line), conditions are set for volatile price action. All it would take is a a whale to push price high enough to trigger a cascade of stop losses.
With that in mind, I will be watching for another opportunity for the whales.
The set up could be similar but opposite of the previous one. If the amount of open longs balloon because of technical analysis, this could create an opportunity for volatile price action. This time downwards.
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