BTC, Correction or Trend Reversal ?
Updated
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.
Comment
Bitcoin is going to our 1.Target and it is in strong sellers territory.
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