Reason to trust
Strict editorial policy which focuses on precision, relevance and impartiality
Created by industry experts and meticulously revised
The highest standards in the declaration and publishing
Strict editorial policy which focuses on precision, relevance and impartiality
Leo football price and a little soft players. Each Arcu Lorem, ultimate all children or, Ultlamcorper football hates.
While Bitcoin (BTC) has remained linked to the range – negotiating between $ 100,000 and $ 110,000 for about a month – short and long positions were built in this range, the short positions increasing at a faster rate.
Long bitcoin is slightly positioned forward, but shorts catch up
After reaching a new summit of all time (ATH) of $ 111,814 last month, BTC consolidated in the range of $ 100,000 to $ 110,000 for almost a month, offering little clarity on its next directional movement.
Related reading
According to a new Quicktake Cryptoque position by the contributor Borisvest, the fresh data from Binance Crypto Exchange suggest that long positions are currently containing a slight advantage in this range.
Historical data reveal a diagram – When short positions increase, short compressions tend to follow. Likewise, an accumulation in long positions has often led to long compressions. A decisive break at each end of the current beach will probably determine the next major Bitcoin movement.
That said, Binance data indicate that if the long positions are slightly in advance, the long / short ratio remains relatively balanced. The funding rate oscillating close neutral levels supports this view, reflecting a closely disputed dead end between bulls and bear.
However, such a balance generally signals uncertainty on the market. While the long interest has stabilized, short positions continue to climb – probably trained by the expectations of the additional decline in the middle of geopolitical tensions on climbing in the Middle East. Borisvest noted:
This shows that most market players think that the rally may not continue. When the price of bitcoin begins to decrease and the financing rates become negative, this means that shorts accumulate quickly. All this indicates that this range is a very sensitive area.
He also noted that with most traders leaning against short positions, the configuration could be ripe for a surprise movement in the opposite direction – perhaps fueled by a silent accumulation of larger players on the market.
Does BTC prepare for a large movement?
Although the BTC is negotiated in the range of $ 100,000 to $ 110,000 during the best of the previous month, several analysts postulate that the flagship cryptocurrency prepares a major movement In the coming weeks.
Related reading
Most analysts look towards an upward movement. For example, the Crypto trader Josh Olszewics do That if the liquidity holds, then BTC can look at a movement towards the level of $ 150,000.
From a technical point of view, the prospects are encouraging. Crypto Analyst Mister Crypto recently stressed that BTC is training A tale and reverse shiny shoulder model on the 3 -day graph.
However, the latest chain data show that the value of the Bitcoin network for transactions (NVT) Golden Cross recently moving In an overly expensive area, guaranteeing prudence. At the time of the press, BTC is traded at $ 105,940, up 1.1% in the last 24 hours.
Star image of UNPLASH, cryptocurrency graphics and tradingView.com
