Retail trader data shows 75.0% of traders are net-long with the ratio of traders long to short at 2.99 to 1. The number of traders net-long is 2.5% lower than yesterday and 4.7% lower from last week, while the number of traders net-short is 3.8% higher than yesterday and 15.5% lower from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Bitcoin prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further MIXED Bitcoin trading bias.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Bitcoin prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further MIXED Bitcoin trading bias.
Note
Bitcoin is going to our 1.Target and it is in strong sellers territory.
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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.
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.