Number of traders net-short has decreased by 21.84% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
88.76% |
11.24% |
9.00%
17.02% |
-12.02%
-21.84% |
6.15%
10.83% |
Bitcoin: Retail trader data shows 88.76% of traders are net-long with the ratio of traders long to short at 7.90 to 1. Our data shows traders are now at their most net-long Bitcoin since Mar 05 when Bitcoin traded near 9,051.27. The number of traders net-long is 9.00% higher than yesterday and 17.02% higher from last week, while the number of traders net-short is 12.02% lower than yesterday and 21.84% 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.
