News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Bitcoin Net-Long traders Increased by 3.4% from Last Week

Bitcoin Net-Long traders Increased by 3.4% from Last Week

Nancy Pakbaz, CFA, Markets Writer
Bitcoin

80.3% OF TRADERS ARE NET-LONG

Bitcoin: Retail trader data shows 80.3% of traders are net-long with the ratio of traders long to short at 4.07 to 1. The number of traders net-long is 0.9% lower than yesterday and 3.4% higher from last week, while the number of traders net-short is 5.8% higher than yesterday and 7.5% higher from last week.

To gain more insight in how we use sentiment to supplement a strategy, join us for one of our weekly webinars on how to “Identify Trends with Sentiment”:

Tuesday 15:00 GMT

Wednesday 00:00 GMT

Wednesday 12:30 GMT

Thursday 21:00 GMT

(click on one of the above times to enroll)

BITCOIN: PRICE MAY SOON REVERSE

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.

--- Written by Nancy Pakbaz, CFA, DailyFX Research

Follow Nancy on Twitter @NancyPakbazFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES