Retail trader data shows 84.9% of traders are net-long with the ratio of traders long to short at 5.61 to 1. The number of traders net-long is 4.4% lower than yesterday and 2.4% higher from last week, while the number of traders net-short is 45.3% higher than yesterday and 57.1% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Bitcoin Cash prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current Bitcoin Cash price trend may soon reverse higher despite the fact traders remain net-long.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Bitcoin Cash prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current Bitcoin Cash price trend may soon reverse higher despite the fact traders remain net-long.
Trade active
BCH comes to the green line, makes head and shoulder and now we will see if it will go where i predicted.Trade active
I will post also Short setup in case that price breaks bellow ( green line 168.21 )Trade active
I expect the move up but in case that it fails we can see the 80.00 again.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.