$BTC 4 is still falling on the hourly timeframe. A bearish CHoCH appeared 17 candles ago, and the price is now at 31.6% of its recent range. The daily chart is still ranging.
The market action is pretty interesting: over the past 6 hours, the taker buy/sell ratio was 1.214, with buyers stepping in, but open interest has barely changed and volume is shrinking. Among retail traders, 59.7% of accounts are long. The funding rate is 0.0035%, about the same as the 7-day average. It feels like both bulls and bears are hesitating, with plenty of disagreement.
I’m staying out for now. No signal, no trade. The price is stuck in the middle: chasing longs feels risky, but chasing shorts could mean getting squeezed by buyers. I’m tempted, but I can hold back. I’ll wait for a clear structure on the 4-hour chart.
$ETH 2487.68, up 0.5% over 24 hours. The daily chart is ranging too, so I’ll leave it alone for now.
What do you make of this move?
#BTC #MarketAnalysis
This is only a personal trading log and does not constitute investment advice.
The market action is pretty interesting: over the past 6 hours, the taker buy/sell ratio was 1.214, with buyers stepping in, but open interest has barely changed and volume is shrinking. Among retail traders, 59.7% of accounts are long. The funding rate is 0.0035%, about the same as the 7-day average. It feels like both bulls and bears are hesitating, with plenty of disagreement.
I’m staying out for now. No signal, no trade. The price is stuck in the middle: chasing longs feels risky, but chasing shorts could mean getting squeezed by buyers. I’m tempted, but I can hold back. I’ll wait for a clear structure on the 4-hour chart.
$ETH 2487.68, up 0.5% over 24 hours. The daily chart is ranging too, so I’ll leave it alone for now.
What do you make of this move?
#BTC #MarketAnalysis
This is only a personal trading log and does not constitute investment advice.