BFX longs versus BTCUSD. Pattern?
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Ignore the indicators, idk how to hide thoseNote
Zoomed in, cleaner look: Interesting to note, the slope of the upward price movement seems to be lessening each time. Could be increased selling pressure by smart money or hesitant buyers.
Also I noticed our recent local high we made around $11,800 had an opposite correlation with long positions (purple square). Theories?
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Also Bitcoin_Schmitcoin pointed out a correlation to shorts. I see one less clearly, but not any less interesting.The green highlights are times when shorts are directly related to the the price action, and red when the relationship is inverse. Notice how it seems the inverse relationship seems to get more dominant. Note
History repeats.Note
When will they learn?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.