The technical setups posted below use simple trend detection, support and resistance, channels, pattern and candle analysis. We aim for high-probability trade setups on BTCUSD and use very few indicators. All charts use BNC’s Bitcoin Liquid Index for maximum accuracy.
The timeframe for trades is 1 to 7 days, so we’ll use 4h candlesticks. Bitcoin is best traded as a purely speculative commodity on 4h+ timeframes.
This section is based on internal (anonymized) Whaleclub trading data and is published exclusively on BNC.
Current Active Long vs Short Volume Ratio: 5.15:1
Average Active Long vs Short Volume Ratio: 2.6:1
We have a major excess in active long volume relative to the average. Market sentiment is overwhelmingly bullish and has been so for a while now, with bulls coming in to sustain and “buy the dip” that occurred between $470 to $435.
The average weighted long entry price is $461.88, which means that on average, active longs are in the red (losing). This entry price is relatively high and indicates that many players are still holding on to the long positions they entered in the top area, around $470. This makes sense as BTCUSD has been range bound for