Here is a comparison of BTC long (main chart) vs short (purple chart) positions.
It's clear that there are almost twice as much short positions opened compared to longs.
If we look it as it is, that could mean this is the start of some bearish movement.
But there are 2 indicators showing that bears will change their mind soon.
MACD on longs crossed showing interest and possibility of opening a huge number of long positions in the following few days.
RSI touched the bottom twice losing a lot of strenght for keep going down.
BTC is in a similar situation like it was sept 27 2017, or nov 7 2017.
It's clear that there are almost twice as much short positions opened compared to longs.
If we look it as it is, that could mean this is the start of some bearish movement.
But there are 2 indicators showing that bears will change their mind soon.
MACD on longs crossed showing interest and possibility of opening a huge number of long positions in the following few days.
RSI touched the bottom twice losing a lot of strenght for keep going down.
BTC is in a similar situation like it was sept 27 2017, or nov 7 2017.