BTC Shorts LOW - What this really means
BTC Shorts have dropped (indicating that traders expect BTC to increase in value) into an area that for exactly a year now has provided both strong support and a good indicator that BTC is actually about to fall in value.
BTC Shorts went below 21500 only three times last year... in May, July and November - when traders bet that BTC would increase in value. Instead, on all three occasions BTC was just about to experience a substantial drop in value.
* Feb 2019 - BTC at $4000 - possible fall to $2600 support area - a drop of $1400 or 35%
Please give me a thumbs up and follow me if you found my analysis interesting.
This is for educational purposes only and not a recommendation to buy or sell.
BTC Shorts went below 21500 only three times last year... in May, July and November - when traders bet that BTC would increase in value. Instead, on all three occasions BTC was just about to experience a substantial drop in value.
- May 2018 - BTC at $10000 - falls to $6000 - a drop of $4000 or 40%
- July 2018 - BTC at $8500 - falls to $6000 - a drop of $2500 or 30%
- Nov 2018 - BTC at $6500 - falls to $3250 - a drop of $3250 or 50%
* Feb 2019 - BTC at $4000 - possible fall to $2600 support area - a drop of $1400 or 35%
Please give me a thumbs up and follow me if you found my analysis interesting.
This is for educational purposes only and not a recommendation to buy or sell.
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