Long/short ratio hitting previous highs, bottom is in?
Mis à jour
Binance's Long/Short all acounts ratio is back above 3.3, which we haven't seen since the last time we hit 56k.
At that that time market reacted to the dip and that low is still holding. With all the fud around Mt. Gox and German govt. selling, some traders believe macro structure is at risk - which I'm not invalidating - but imo best odds are on longs, at least till the said structure is broken.
Following the same idea as the 1st of May, that box is to be longed. Easy to know when to cut losses, lose structure (always wait for closes and validations) = close everything.
The recent OI pump of over 15k BTC makes me believe volatility will be there when it's most needed and if we get any signs of relief BTC will indeed moon.
The time to act is now. You can stay out and look from the sidelines, but I wait weeks for moments like this. Again for me R/R is too good to be ignored.
Stay safe kings
At that that time market reacted to the dip and that low is still holding. With all the fud around Mt. Gox and German govt. selling, some traders believe macro structure is at risk - which I'm not invalidating - but imo best odds are on longs, at least till the said structure is broken.
Following the same idea as the 1st of May, that box is to be longed. Easy to know when to cut losses, lose structure (always wait for closes and validations) = close everything.
The recent OI pump of over 15k BTC makes me believe volatility will be there when it's most needed and if we get any signs of relief BTC will indeed moon.
The time to act is now. You can stay out and look from the sidelines, but I wait weeks for moments like this. Again for me R/R is too good to be ignored.
Stay safe kings
Commentaire
looking great, want to believe that bottom was right after I posted this. Box was to be longed indeed, stops at BE but too soon to set a tp. After all this is a htf long
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