Our data shows traders are now at their least net-long Bitcoin since Jan 02 when Bitcoin traded near 32,175.37.

Our data shows traders are now at their least net-long Bitcoin since Jan 02 when Bitcoin traded near 32,175.37.

Number of traders net-short has increased by 16.20% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

Bitcoin

BULLISH

65.07%

34.93%

-1.48%
Daily

-8.33%
Weekly

7.73%
Daily

16.20%
Weekly

1.55%
Daily

-1.03%
Weekly

Bitcoin: Retail trader data shows 65.07% of traders are net-long with the ratio of traders long to short at 1.86 to 1. Our data shows traders are now at their least net-long Bitcoin since Jan 02 when Bitcoin traded near 32,175.37. The number of traders net-long is 1.48% lower than yesterday and 8.33% lower from last week, while the number of traders net-short is 7.73% higher than yesterday and 16.20% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Bitcoin prices may continue to fall.

Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current Bitcoin price trend may soon reverse higher despite the fact traders remain net-long.

element inside the element. This is probably not what you meant to do!nn Load your application’s JavaScript bundle inside the element instead.

Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2021/03/12/BITCOIN-IG-Client-Sentiment-0923.html
By: Research

Written by:

11,742 Posts

View All Posts
Follow Me :

Leave a Reply