Bitcoin has been trying to break 9500$ resistance for 11 days. Bulls fighting against bears. At last, one of bulls or bears will show us the next move. if bears conquer bulls, the path will be a downtrend and vice versa. so the question is how to predict the winner of this fight? bulls or bears? I have some evidence that shows bears are exhausted. Take a look at the "BTCUSDShorts" chart, the number of short positions is trading inside a rising wedge channel so a breakdown is expected.
But you may ask "What does this breakdown mean?". Actually it means that most of the bears are hopeless and exhausted and as a result, they would close their short positions and bulls will control the whole market.
Consider that the "BTCUSDLongs" chart is in an uptrend as I wrote about it.
But you may ask "What does this breakdown mean?". Actually it means that most of the bears are hopeless and exhausted and as a result, they would close their short positions and bulls will control the whole market.
Consider that the "BTCUSDLongs" chart is in an uptrend as I wrote about it.
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