Retail trader data shows 77.5% of traders are net-long with the ratio of traders long to short at 3.44 to 1. The number of traders net-long is 0.3% lower than yesterday and 6.6% higher from last week, while the number of traders net-short is 2.7% lower than yesterday and 6.4% 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. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Bitcoin-bearish contrarian 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. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Bitcoin-bearish contrarian trading bias.
Note
It broke the trend line and its going to our target
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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.