Bitcoin: Retail Trader Data Shows 75.9% of Traders Are Net-Long
What's on this page
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”:
(click on one of the above times to enroll)
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.