Number of traders net-short has decreased by 16.77% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
91.70% |
8.30% |
-0.40%
2.35% |
-6.94%
-16.77% |
-0.98%
0.44% |
Bitcoin: Retail trader data shows 91.70% of traders are net-long with the ratio of traders long to short at 11.05 to 1. Our data shows traders are now at their most net-long Bitcoin since Aug 21 when Bitcoin traded near 11,610.94. The number of traders net-long is 0.40% lower than yesterday and 2.35% higher from last week, while the number of traders net-short is 6.94% lower than yesterday and 16.77% lower 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.
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.
