Bitcoin Forum

Hi everybody

Recently one indicator on TradingView began to gain popularity, it shows amount BTC LONG and BTC SHORT positions on Bitfinex
If you interpret it in the right way, you may use this information as an additional factor to make your decision

And it's very easy to set it up

1) Go to Indicators in Main menu

https://i.imgur.com/g0nJpz7.png



2) Search BTCUSDSHORTS BTCUSDLONGS

https://i.imgur.com/7n0voZZ.png



3) That's pretty it. As simple as possible

https://i.imgur.com/wdTbuWk.png


Right column shows amount of shorts and longs in BTC


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If you found this post was useful, I'll be really appreciated for +merit

You can see that in long term, bitcoin prices are still in their down cycle and may continue to fall deeply, but in the short term, bitcoin prices are showing uptrend very clear. Bitcoin prices immediately rose to $ 7900 and now return to $ 8100.

According to my analysis, the bitcoin price will continue to increase and will reach the $ 10000 mark in the coming time.

You can see that in the short term there are many people who value bitcoin will be able to have big fluctuations and will continue to fall sharply, the past bitcoin prices are showing signs of slowing down and adjusting very hard to guess, altcoin prices are starting to fall and this is a very interesting profit-taking signal. So I think you should not be in altcoin at the moment and be in bitcoin and USD.

I'm not using Bitfinex but I have the same result with you. We all can see down trend still running and ( maybe ) until next year and that's why I leave bitcoin, for now. I try to find opportunity to make money in this situation but the result is not good. I afraid to try again, until market stable again I chose to wait.

It sure really look interesting and a useful tool most especially for scalping. I would not rely on it completely though, looking at the chart and the indicator movement in the past at the same time, it would be necessary to be combining some momentum indicator with it to make decision should be better. But for real, it is quite some useful information to make use of if one wants to lend with the possible direction of the market.

Usually, I am doing scalping thru bitmex. But still planning to do it in bitfinex. Your thread is very useful for most of us who wish to set an entry on another trading website like bitfinex. Though, they have a lot of similarities with bitmex, I also want to explore how to do a long and short entry with your guide.

Too risky to short at this range.

My first choice is always LongHodl
I do not have much time to observe and capture market news soon, so I choose a safe along with patience

The best way is just use coinmarket cap because it has a good statistics and it shows the highest price of cryptocurrency based on their rankings from different market prices.

SHORTS amount decreased a lot
LONGS increased
High possibility of continuation of the bull market (more or less)

https://www.tradingview.com/x/PXR22mUF/

Amazing! good to know there's an indicator like this. Thanks mate. I haven't add any useful indicators like this that will add to the conviction. It's like for the high risk it's time and medium term is now becoming imminent.

Continuation of the bull market? Which bull market?

If you're referring to what happened yesterday, that's quite a normal movement fitting within the lower high trend that we have been subject to the moment we went down from the all time high last year.

What's more reliable as indicator, the lower high trend that has successfully been doing the same thing over and over again, or the continuously failed attempts to break out of the aforementioned cycle? I am going for the first option.

In the coming months we'll know what happens, but whatever the direction is at that point, I expect a serious amount of fireworks. I think a $5000 visit is more likely than an $8000 visit.

Current bull market
Maybe it will take only few days but past few days and right now it looks quite bullish

Don't wanna argue about this man
In general, It is still bearish, I agree

This indicator is just another valuable tool in addition to my trading strategy which is solely based on Price Action and in most case I am also using Japanese candlestick pattern I can't rely only on this indicator for trading bearing in mind that indicators lag with price because it is computed based on past history of price kudos for bringing it into our notice.

It's popular because of the whales shilling it and to make some people that know nothing looks smarter,but if you are using it as an indicator for your position.
you will get nothing even you might end up burning your own money.
those indicators are not reliable at all,it could change at anytime.
i just remembered when BTC shorts reach its ATH,but the price moved to the opposite party and killing a lot of short position.

also personally,i never used it as some of my 'guide' to create my position because we do not know whether it is reliable or not.

Wow nice, its more easy now to study chart. I actually don't have an account in bitfinex but maybe I will try to use it or hopefully this can be available also in binance and poloniex. Mostly I don't play short term with bitcoin because its too risky for me to do that, so I always play long with it. Bull market might come again if bitcoin able to go beyond $7k this month, we still have more days for this one.

No matter what you say and what you put in here,still the basis of being here is to trust and support the crypto you are holding,because if you are here just to get some bucks and then get out i will tell you this is not the right place because fluctuations always here and no one can predict what woukd be the value for tomorrow

perhaps this is a good indicator, but the orders are constantly changing and if you remove them, the picture can change dramatically

Thanks for sharing.  This is certainly something to keep an eye on for many traders.  I have noticed often since using similar indicators that as prices get stagnant, a lot of times longs or shorts will increase and price will go in the opposite direction of the larger position side, thus squeezing them to close.  Does not happen every time, but has been useful particularly in play with other indicators.