$BTC 4 hours have been trending downward, with a recent bearish CHoCH. Price is at 22.1% of the recent range, hovering near the bottom. The daily chart is still ranging, with declining volume and a volume ratio of 0.39.
The market setup feels awkward: 65% of accounts across the market are long, and the funding rate is 0.0045%, clearly above the 7-day average, yet open interest is falling and the large-trader long/short ratio is 1.65. Retail traders are piling into bullish positions, but the price is heading down—this is when people are most likely to hold on and wait for a rebound, or rush to buy the dip. I get it; everyone wants to buy at the bottom.
I don’t have a signal, so I’m waiting. The 4-hour chart is falling, but the daily price is above the 50-day moving average, so the direction is unclear. Forcing a trade could easily get me caught on both sides. It’s a little unnerving, but I can only stay patient. What do you think of this move?
#BTC #MarketAnalysis
This is only my personal trading record and does not constitute investment advice.
The market setup feels awkward: 65% of accounts across the market are long, and the funding rate is 0.0045%, clearly above the 7-day average, yet open interest is falling and the large-trader long/short ratio is 1.65. Retail traders are piling into bullish positions, but the price is heading down—this is when people are most likely to hold on and wait for a rebound, or rush to buy the dip. I get it; everyone wants to buy at the bottom.
I don’t have a signal, so I’m waiting. The 4-hour chart is falling, but the daily price is above the 50-day moving average, so the direction is unclear. Forcing a trade could easily get me caught on both sides. It’s a little unnerving, but I can only stay patient. What do you think of this move?
#BTC #MarketAnalysis
This is only my personal trading record and does not constitute investment advice.