Power_of_Shitcoin 의 BITMEX:XBTUSD.P 용 Distribution pattern

beyondta indicator chartpattern

Reasons to short:

1. Positive bitmex funding

2. Daily BB staying on 20 sma

3. Cumulative orderbook leaning red

4. Budda mountains or complex head and shoulders

5. From open interest, I would say that people are more interested in short but they tend to close their positions fast. So once open interest drops a bit to its consolidation level, we may short.

6. asks were dominant in this consolidation

7. Bitfinex shorts are quite dumb as you can see. Most of those bottom shorters quit which is quite concerning and they just stopped, deciding to wait for another move. But bitfinex aggressive longs were doing quite nice and they also left, waiting for another move. So longs and shorts quit in the late uptrend - bearish.