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Epic Pennant on BTC Chart


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19 hours ago, yugioh said:

It seems like we are still under MA50 in 4h chart!

So I don'T believe that we are recovering still.

Sad

RSI is diverging from price by printing higher lows. Once we break through resistance, reversal will be assumed to be complete. I'm going out on a limb here and calling it now. Let's see if I'm right. There's always a chance of an overnight spike down. This is crypto after all...

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32 minutes ago, NMNR said:

We're already in one for bitcoin imo. 

possibly yes , but to me we need to go under 40-42K to confirm this , but yes we most likely going down in the next days/weeks , i hope i'm wrong here

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6 hours ago, xrp-nuke said:

Oh common, bulls where r ya?

Open interest on BTC is growing quickly, the quickest it ever has in history. Basically people are opening longs on leverage at the speed of light and the price is hardly moving. The scene is being set for another liquidation event... I might miss out on a pump but I am not playing this.

oibtc.png

Edited by Troote
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57 minutes ago, Troote said:

Open interest on BTC is growing quickly, the quickest it ever has in history. Basically people are opening longs on leverage at the speed of light and the price is hardly moving. The scene is being set for another liquidation event... I might miss out on a pump but I am not playing this.

oibtc.png


Let me prefix by saying I am not a trader and know next to nothing about it.

But can I ask you please to explain (since I don’t understand) why simply being back at a previous position of open interest would trigger another dump?

That figure doesn’t seem magical, it was hit at previous points in your chart.

Also if you look at the very start of your chart the open interest was climbing rapidly then too, while price wasn’t massively moving and yet no collapse in open interest or price happened then.

Not saying you are wrong.  The ‘quickest in history’ probably has the biggest chance of being an effector, but I don’t understand the reasoning.

 

Unless you mean purely that the ‘quickest in history’ is the reason to avoid the risk aspect?  Otherwise it might also be seen as a potential prelude to gains.  In any case it seems likely to presage something.   Let’s hope it’s a rise.  :JC_doubleup:

 

Also,  thanks for sharing this info,  it’s much appreciated.

 

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