75.2% OF TRADERS ARE NET-LONG
Bitcoin: Retail dealer knowledge exhibits 75.2% of merchants are net-long with the ratio of merchants lengthy to brief at three.04 to 1. The variety of merchants net-long is 1.6% decrease than yesterday and zero.eight% decrease from final week, whereas the variety of merchants net-short is 1.eight% decrease than yesterday and 1.5% decrease from final week.
Make sure you take a look at our Bitcoin Buying and selling Information should you’re new to cryptocurrencies!
BITCOIN SUGGESTS A BEARISH BIAS
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests Bitcoin costs could proceed to fall. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date adjustments provides us a stronger Bitcoin-bearish contrarian buying and selling bias.
— Written by Nancy Pakbaz, CFA, DailyFX Analysis
Comply with Nancy on Twitter @NancyPakbazFX