Litecoin, Trade With or Against the Crowd ?
Updated
Litecoin: Retail trader data shows 92.3% of traders are net-long with the ratio of traders long to short at 11.98 to 1. The number of traders net-long is 2.1% lower than yesterday and 1.8% higher from last week, while the number of traders net-short is 10.4% lower than yesterday and 40.3% lower from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Litecoin 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 Litecoin-bearish contrarian trading bias.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Litecoin 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 Litecoin-bearish contrarian trading bias.
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