{"id":406924,"date":"2019-12-11T19:00:54","date_gmt":"2019-12-11T19:00:54","guid":{"rendered":"https:\/\/wncen.com\/?p=406924"},"modified":"2019-12-11T15:56:47","modified_gmt":"2019-12-11T15:56:47","slug":"bitcoin-longs-near-all-time-high-td9-reaches-sell-signal","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-longs-near-all-time-high-td9-reaches-sell-signal\/","title":{"rendered":"Bitcoin Longs Near All-Time High, TD9 Reaches Sell Signal"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Long positions taken on <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> on the popular crypto exchange Bifinex are nearing an all-time high, all while the leading cryptocurrency by market cap continues to fall.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">It could suggest that a very large whale is taking a massive position in Bitcoin ahead of the upcoming halving, in preparation for a rally and bull market. Is a market maker ready to move the price of Bitcoin higher and set a bottom? What does past data suggest?<\/span><\/p>\n<h2>Bitcoin Longs Near All-Time High on Bitfinex, But What Does This Mean?<\/h2>\n<p class=\"p1\"><span class=\"s1\">Crypto analysts take into consideration every possible piece of data they can get their hands on, and often look at volume, open interest, volatility, and other metrics in addition to review price patterns. Another metric often used, is the balance of long versus short positions taken in <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> across a number of cryptocurrency exchanges.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/12\/09\/crypto-price-action-sports-uncanny-resemblance-to-bitcoin-bear-market-bottom\/\">Crypto Price Action Sports Uncanny Resemblance to Bitcoin Bear Market Bottom<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">The metric is so commonly used, even <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDLONGS\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">TradingView provides separate charts for BTCUSD Longs<\/a> and <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDSHORTS\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">BTCUSD Shorts<\/a> on leading cryptocurrency exchange Bitfinex.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Some traders argue that performing technical analysis on such a chart is useless, however, the ratio between the two position types, and either side spiking one way or another can be helpful information for analysts to take into account to gauge current market sentiment or conditions.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">One of those key metrics has reached a level that\u2019s just about on par with its all-time high, reaching 38,800 BTC worth of long positions \u2013 or roughly $280 million at today\u2019s Bitcoin price.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Speculation points to the positions being taken by a massive whale on Bitfinex, who is preparing for <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> to set a local bottom, and begin a new early 2020 rally leading into Bitcoin\u2019s halving event.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter  wp-image-406929\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/HTFLongs.jpg?resize=564%2C353\" alt=\"bitcoin longs bitfinex\" width=\"564\" height=\"353\"><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter  wp-image-406930\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/btc.jpg?resize=561%2C351\" alt=\"bitcoin longs bitfinex\" width=\"561\" height=\"351\"><\/p>\n<h2>Past Results Cannot Determine Future Moves, TD9 Flips Sell on BTCUSD Longs<\/h2>\n<p class=\"p1\"><span class=\"s1\">Past data shows that the last time BTCUSD Longs reached such a high was back in February 2019, months prior to Bitcoin taking off on yet another parabolic rally.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">However, looking back further, BTCUSD Longs also reached such a high point in March of 2018, just before Bitcoin\u2019s bear market really took hold.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The conflicting data makes it difficult to decide with any certainty if the current spike in BTCUSD Longs is bullish, or bearish.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter  wp-image-406931\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/TD9-BTCUSDLongs.jpg?resize=566%2C354\" alt=\"bitcoin longs bitfinex td9\" width=\"566\" height=\"354\"><\/p>\n<p class=\"p1\"><span class=\"s1\">Interestingly, the TD9 Sequential indicator has triggered a 9 sell signal on the daily chart for BTCUSD Longs, which could hint at a massive correction in the metric which has spiked to nearly all-time high levels.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/12\/06\/decision-time-for-future-of-bitcoin-as-crypto-teeters-on-bear-bull-edge\/\">Decision Time For Future Of Bitcoin As Crypto Teeters On Bear-Bull Edge<\/a>\u00a0<\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">The reversal in BTCUSD Longs would only come from those long orders closing for some reason, whether they are in profit thanks to a massive <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> rally, or because the price of the asset fell so steeply, the long traders had to close to prevent further losses from occurring.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Long positions taken on Bitcoin on the popular crypto exchange Bifinex are nearing an all-time high, all while the leading cryptocurrency by market cap continues to fall. It could suggest that a very large whale is taking a massive position in Bitcoin ahead of the upcoming halving, in preparation for a rally and bull market. Is a market maker ready to move the price of Bitcoin higher and set a bottom? What does past data suggest? Bitcoin Longs Near All-Time High on Bitfinex, But What Does This Mean? Crypto analysts take into consideration every possible piece of data they can get their hands on, and often look at volume, open interest, volatility, and other metrics in addition to review price patterns. Another metric often used, is the balance of long versus short positions taken in Bitcoin across a number of cryptocurrency exchanges. Related Reading | Crypto Price Action Sports Uncanny Resemblance to Bitcoin Bear Market Bottom The metric is so commonly used, even TradingView provides separate charts for BTCUSD Longs and BTCUSD Shorts on leading cryptocurrency exchange Bitfinex. Some traders argue that performing technical analysis on such a chart is useless, however, the ratio between the two position types, and either side spiking one way or another can be helpful information for analysts to take into account to gauge current market sentiment or conditions. One of those key metrics has reached a level that\u2019s just about on par with its all-time high, reaching 38,800 BTC worth of long positions \u2013 or roughly $280 million at today\u2019s Bitcoin price. Speculation points to the positions being taken by a massive whale on Bitfinex, who is preparing for Bitcoin to set a local bottom, and begin a new early 2020 rally leading into Bitcoin\u2019s halving event. Past Results Cannot Determine Future Moves, TD9 Flips Sell on BTCUSD Longs Past data shows that the last time BTCUSD Longs reached such a high was back in February 2019, months prior to Bitcoin taking off on yet another parabolic rally. However, looking back further, BTCUSD Longs also reached such a high point in March of 2018, just before Bitcoin\u2019s bear market really took hold. The conflicting data makes it difficult to decide with any certainty if the current spike in BTCUSD Longs is bullish, or bearish. Interestingly, the TD9 Sequential indicator has triggered a 9 sell signal on the daily chart for BTCUSD Longs, which could hint at a massive correction in the metric which has spiked to nearly all-time high levels. Related Reading | Decision Time For Future Of Bitcoin As Crypto Teeters On Bear-Bull Edge\u00a0 The reversal in BTCUSD Longs would only come from those long orders closing for some reason, whether they are in profit thanks to a massive Bitcoin rally, or because the price of the asset fell so steeply, the long traders had to close to prevent further losses from occurring.<\/p>\n","protected":false},"author":517,"featured_media":406921,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,925,6664,64059,16083],"class_list":["post-406924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitfinex","tag-crypto","tag-longs","tag-shorts"],"acf":[],"yoast_head":"\n<title>Bitcoin Longs Near All-Time High, TD9 Reaches Sell Signal<\/title>\n<meta name=\"description\" content=\"Long positions taken on Bitcoin on the popular crypto exchange Bifinex are nearing an all-time high, all while the leading cryptocurrency by market cap\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitcoin-longs-near-all-time-high-td9-reaches-sell-signal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Longs Near All-Time High, TD9 Reaches Sell Signal\" \/>\n<meta property=\"og:description\" content=\"Long positions taken on Bitcoin on the popular crypto exchange Bifinex are nearing an all-time high, all while the leading cryptocurrency by market cap\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitcoin-longs-near-all-time-high-td9-reaches-sell-signal\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-11T19:00:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-12-11T15:56:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/bitcoin-longs-bitfinex-whale-crypto-shutterstock_1122626339-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1564\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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