Bitcoin
Long

Impulse Moves

233
This chart shows 6 out of 24 days were the money impulse moves down. or 25% of total moves were down.
Next there were 14 down days and 10 up days. 40% more days down than up.
Last is there were only 10 days up out of 24 days. 41% days up.
Conclusion, probability says this trend will reverse. We will have 40% more up than down and possibly 6 money impulse moves at say a 50/50 split up and down. In my opinion, with 6 impulse moves down, and 40% more down days than up, prices should be lower than where they currently are given the ratios. Which says the up moves are bigger than the moves down because of lack of sellers. I don't see much gain to stay short over the next 24 days especially if i expect the trend to reverse and have more up days than down and possibly 1 or 2 big impulses going long
its not so much that the volume of buyers has me leary of going short, its the shortage of sellers going short. I guess the bulk of coins are just not for sale at the moment. No indicator I saw in the last 2 weeks have said go long except possible wave counts of a bigger trend yet the market has handled what I would say is fairly strong given all the negative FUD on top the ratios. So if Im hearing the markets right, they are telling me there is a shortage of sellers for the time being. If I read the market differently I will adjust.

FYI ( you should probably short now that Im long.lol

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