Variety of merchants net-short has decreased by 12.37% from final week. SYMBOL
Variety of merchants net-short has decreased by 12.37% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
Bitcoin |
BEARISH |
91.12% |
8.88% |
5.69%
-0.54% |
-6.86%
-12.37% |
4.44%
-1.71% |
Bitcoin: Retail dealer information reveals 91.12% of merchants are net-long with the ratio of merchants lengthy to brief at 10.26 to 1. Our information reveals merchants are actually at their most net-long Bitcoin since Jul 27 when Bitcoin traded close to 11,220.88. The variety of merchants net-long is 5.69% larger than yesterday and 0.54% decrease from final week, whereas the variety of merchants net-short is 6.86% decrease than yesterday and 12.37% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests Bitcoin costs might proceed to fall.
Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date modifications provides us a stronger Bitcoin-bearish contrarian buying and selling bias.