The long/short ratio has recently rocketed to 3.80 while it has never been above 2.30, not even during late 2017. This means there currently is a 3.80 USD long position for every 1.00 USD short position on BITFINEX. Big price movement could soon follow as the market is so one-sided with the sentiment looking extremely bullish.
There are a total of three different factors we will consider in this analysis. Each of them have shown correlation with XRP price in at least three occasions during the last couple of months.
1. Price:
XRP has used two price support trendlines since December 2018. The first one being at the ~0.285 USD level and the second one starting after the May 2019...
Bitcoin looks like it's about to bounce just above the 7,000. We might get a 1-2 week consolidation period at this level just like we saw on April and then move up to around 8,600-9,000 or we might as well just bounce up directly as we saw earlier this year in February.
Either way, if we are to continue bearish, this log trend line has been working out since...
For the past 5 days, Bitcoin has been making an assymetrical triangle. Assymetrical triangles suggest the price has finally consolidated and is ready to move to the next level. As we've lately been in a bullish scenario, I would expect Bitcoin to reach 10K in the upcoming days, with the breakout happening within 24 hours after this post.
The graph speaks for itself. I've never seen something neater than this.
We can see Bitcoin is perfectly bouncing off the previous support line. Currently almost oversold in the RSI. Has gone down 21% in the last 3.5 days.
A bounce is definitely expected. I believe we will reach the top resistance line within a few days.
Bitcoin has been going down at an angle of 45. This was also the case in the previous fall; about 10 days ago. After bouncing off the maximum support, Bitcoin 2.16% entered an area between 20 and 45 degrees, bounced off 2 more times, and then went back up to 17.3K.
I believe this could happen again. Bitcoin might initially look as if it's going up, then fall...
BTC has been bearish since last week after the CBOE and CME hype. We are now seeing some consolidation in the 13K-15K range. Price is forming a symmetrical triangle with an apex at about 14K. Breakout is expected between now and Dec 26 6:00 UTC.
I believe Bitcoin will break up and reach a new ATH in about 2 or 3 weeks, as we have already seen many corrections...
Recent analysis shows that a falling wedge is about to finish in the next few hours (Bearish). However, Bitcoin had a very similar rising wedge last week, 2 or 3 days before CBOE. When the rising wedge finished, Bitcoin's price rised 5,000 USD in only 2 days. Was the rising wedge a problem? No.
In my opinion, this similar wedge, also 2 or 3 days before CME, as...
