BTCUSD Long-Term Bullish Outlook
This is just a general idea of where I think we are in the move up in BTCUSD. The main area being targeted is between 
65K-150K, although I need to see the first wave up (to nearly a new high of 20K) and down from around where we are now ....a 1/2 to project 3,4 and 5 (not to degree).
Orange line is BTCUSDSHORTS, the number of open leveraged short positions. At the top, ~20K, "no one" was short when they should have been. I believe the inverse is true now, the masses are short when they shouldn't be.
Another thing, if you look at the beginning of the orange line/BTCUSDSHORTS, you will see the masses were all short all the way up to the top, THEN THEY DROPPED OFF TO THE LOWEST LEVEL!! A sure sign a top was in.
Pay no attention to the timeline...accuracy should not be assumed. Nor the pullback from the top. The only area I am targeting is65K-150K.
65K-150K, although I need to see the first wave up (to nearly a new high of 20K) and down from around where we are now ....a 1/2 to project 3,4 and 5 (not to degree).Orange line is BTCUSDSHORTS, the number of open leveraged short positions. At the top, ~20K, "no one" was short when they should have been. I believe the inverse is true now, the masses are short when they shouldn't be.
Another thing, if you look at the beginning of the orange line/BTCUSDSHORTS, you will see the masses were all short all the way up to the top, THEN THEY DROPPED OFF TO THE LOWEST LEVEL!! A sure sign a top was in.
Pay no attention to the timeline...accuracy should not be assumed. Nor the pullback from the top. The only area I am targeting is
65K-150K.Note
BTCUSDSHORTS now just under the highest level ever, and rising!!! If this is an Ending Diagonal, on the M60 time-frame, we are either in wave 3,4 or 5. One more low in a 5th wave past 3660 could complete this....with a thrust up to $4500 to start. The bottom being in for wave 4. That said, these tend to always take longer than expected, requiring another couple of days.Note
One more up/down should complete wave 4 with an Ending Diagonal:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.