Bitcoin: Does the Longs/ Shorts spec signal a trend change?

On this study we take a look at the Longs/ Shorts speculation. During this bear market, every time the RSI was oversold, it gave a Sell Signal. On the other hand during bull markets, when the RSI is oversold, if gives a Buy Signal. Quick conclusion: every time the RSI is oversold on the Longs/ Shorts, the price action follows the underlying long term trend.

The obvious question emerges. When do we know the market trend is changing?

Well that is the key and of course we have to use various indicators, from various studies to make an approximate conclusion.

On this Longs/ Shorts speculation study we have identified a sequence (illustrated by the Rectangle) that signals a trend change. The fractals before the trend changed last time from bullish to bearish, appears to be similar to the current sequence. Will this lead to a trend change? If the sequence continues to print the same candles it just might.

Keep in minds that this is only a study using a less frequent indicator. It is intended to broaden our long term perspective and add value to more technical analyses such as those below: