Nothing too exciting for now, however we do see the shorts creeping up a touch while the longs continue to flatline as is. A continued rise in the shorts with an increasing price might just mean there isn't blind and total faith in the BTC price increases at this point. If both price and shorts GRADUALLY rise, it's just caution with the masses - movement on the shorts is REACTIVE to price. If we see a SHARP move in the shorts this would be more indicative of ACTIVE play by the bigger players, similar to what we saw on the 8th with the sudden drop in shorts.
What to look out for:
If there is a sudden sharp move upwards with the shorts timed oddly close to a price increase with BTC then it is likely a setup. In that scenario someone would be stacking up their shorts while pumping the price of BTC to encourage some FOMO while they get ready to dump. Sharp movements in price or long/short numbers are the ones to watch, while gradual movements are the reactive players like us, just holding on for the ride.
Bitcoin Manipulation & Technical Analysis:
If anyone is doing technical analysis on immature assets like Bitcoin....just assume there's so much manipulation and the token volume so small you're trying to predict the future on a past with such a small sample size the analysis means very little. Bitcoin will get there, but the current state of the volume for crypto is a few major players on a few large exchanges poking the price around. And 267 fake exchanges copy those charts, candle for candle with wash trading from start to finish. We're not there yet folks, can't predict something that hasn't established a core set of players and predictable movement. The only shot is to try and see the motivations behind those that are moving the price around. Once we get enough real volume then you can trend patterns and analyze the past to predict the future.
What to look out for:
If there is a sudden sharp move upwards with the shorts timed oddly close to a price increase with BTC then it is likely a setup. In that scenario someone would be stacking up their shorts while pumping the price of BTC to encourage some FOMO while they get ready to dump. Sharp movements in price or long/short numbers are the ones to watch, while gradual movements are the reactive players like us, just holding on for the ride.
Bitcoin Manipulation & Technical Analysis:
If anyone is doing technical analysis on immature assets like Bitcoin....just assume there's so much manipulation and the token volume so small you're trying to predict the future on a past with such a small sample size the analysis means very little. Bitcoin will get there, but the current state of the volume for crypto is a few major players on a few large exchanges poking the price around. And 267 fake exchanges copy those charts, candle for candle with wash trading from start to finish. We're not there yet folks, can't predict something that hasn't established a core set of players and predictable movement. The only shot is to try and see the motivations behind those that are moving the price around. Once we get enough real volume then you can trend patterns and analyze the past to predict the future.
