Bitcoin: Traders remain net-long

Bitcoin: Retail Trader Data shows 81% of Traders are Net-Long

Bitcoin: Retail trader data shows 80.9% of traders are net-long with the ratio of traders long to short at 4.23 to 1. The number of traders net-long is 1.0% lower than yesterday and 2.1% higher from last week, while the number of traders net-short is 6.3% lower than yesterday and 4.6% 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”:

Wednesday 00:00 GMT

Thursday 15:00 GMT

(click on one of the above times to enroll)

Bitcoin: Changes in Sentiment Suggest 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.

-Written by Tammy Da Costa, DailyFX Research