Coinfarm shows a 90/10 skew short:long ratio. Significant POC above price, with large short position into a false breakout of the flag on the left could lead to the market probing for value higher and ultimately testing to see if there is still demand above the most recent highs.New highs
We do not have an excess top on the 9, showing possibly a lack of demand and following liquidation as simply an inventory adjustment in the auction and not new selling entering the market. Large short accumulation in this period could be due to short term technical and not long term fundamental reasons. This might possibly indicate smart money stepping in at these...
Notice how short term inventory corrects on the hourly chart when it fails to make a new high after the next bar and breaks the short term trend line most likely being used by short term momentum traders. It seems as though longer term money is stepping in and purchasing bitcoin below value on each short term liquidation break. This feels to me like we have longer...
