Oil prices have been under pressure recently, due to many factors. Largely, financial media has presented the price decline as a supply-side story. USA produces more oil, price goes down. More importantly, though, is the demand side story. The demand side story is the shrinking demand for these oil reserves due to a projected economic slowdown, particularly in the...
Today looks to be a false breakout above local support/resistance, with a rejection from the .382 Fibonacci Re-tracement of the recent bearish leg down. Closed below the local resistance after finding resistance there late in the trading day. I think that the Oversold condition has corrected itself, albeit on low volume trading this week. Buy side volume is still...
The channel formed from the highs on Nov 21 and Nov 29 on Coinbase, versus the channel on bitfinex. There is a significant difference in the channels. Specifically, in recent price action.
Shorts (BTCUSDSHORTS) are nearing the high from 10/9. Additional short sellers might be coming late to the party.... or maybe not. Longs (BTCUSDLONGS) have finally begun their fall, but they haven't fallen miraculously (yet), especially considering long interest (BTCUSDLONGS) was at an all-time high! What this says to me is the perma-bulls maybe have continued...