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Bitcoin: Retail Trader Data Shows 75.9% of Traders Are Net-Long

Bitcoin: Retail Trader Data Shows 75.9% of Traders Are Net-Long

2019-05-28 17:00:00
Richard Snow, Markets Writer
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Bitcoin IG client sentiment

Compared to Last Week Net-Longs and Net-Shorts are Up 13% and 16.7% Respectively

Bitcoin: Retail trader data shows 75.9% of traders are net-long with the ratio of traders long to short at 3.15 to 1. The number of traders net-long is 3.1% higher than yesterday and 13.0% higher from last week, while the number of traders net-short is unchanged than yesterday and 16.7% 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”:

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Bitcoin: Sentiment Continues to Suggest a Bitcoin-Bearish Trading Bias

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.

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

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