Bitcoin Traders Double Down On Bearish Bets Amid Consolidation – What This Me...
Following its bullish footprint in April, Bitcoin price action slowed over the past week, recording no significant change. Amid this mini consolidation, analysis page XWIN Research Japan reports that traders remain confidently bearish on the digital asset’s position despite recent gains. Related Reading: Bitcoin Sentiment Warning: Social Media FOMO Spikes Again High Open Interest, Negative Funding Rates – Bitcoin Suffers From Intense Pessimism Funding rates are periodic payments exchanged between traders in perpetual futures contracts to keep the contract price close to the actual spot....
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Hold your timid ‘Bitcoin-to-$100K’ bets; many Bitcoin traders are favoring long-shot bets that Bitcoin will TRIPLE that number – and all by the end of June. To clarify, these aren’t formal predictions. But over on crypto options trading platform Deribit, Bitcoin traders are placing big bets on an outside-the-market opportunity – a Bitcoin $300K call […]
Bitcoin has been declining since failing to clear the 300 handle at the beginning of March. As we wind down the month, we find the cryprocurrency testing the 235-236 area as support. As the 1H chart shows, price has failed to break this area twice. As we began the week, we saw a sharp rebound from the 236 area. Price is climbing back above the 100-, and 50-hour simple moving averages, which show loss of the prevailing bearish bias. The RSI is about to clear 60, which would reflect loss of the prevailing bearish momentum. Bitcoin (BTCUSD) 1H chart 3/31. The price action in the 1H chart....
Many successful traders look for double bottom and W bottom reversal patterns on technical charts in order to spot powerful price reversals. Trading in the direction of the trend is one of the best ways to be profitable. If traders learn to spot a new trend early, it provides an opportunity to buy with a good risk to reward ratio. In addition to identifying a trend, traders should also be able to recognize when it has reversed direction.While several patterns signal a possible trend change, one of the easiest to spot is the double bottom pattern. This can help traders change their strategy....
Ethereum is facing a pivotal test as the market struggles to hold momentum amid mounting selling pressure. After losing the $4,500 level, ETH has entered a tight consolidation range, with bulls now forced to defend current levels. Analysts warn that failure to reclaim $4,500 soon could open the door to a deeper correction, with downside […]
Bitcoin has hit another rough patch. Analysts are predicting limited upside and potential stagnation following the latest $BTC Reserve disappointment. The market had hoped for stronger accumulation trends, but instead, Bitcoin’s reserves have failed to inspire confidence. The result? A wave of negative sentiment, with some experts warning that $BTC could enter a prolonged consolidation […]