$BTC 83,312 USD: Bulls and bears are battling near resistance, with Shorts under pressure?
Derivatives data:
• Top Trader L/S: 1.52 (over 60% are positioned Long).
• OI: Holding firm at 7.65 billion USD.
• Slightly negative funding rate (-0.004%).
Scenario: Price is holding near the highs, but negative funding and Top Traders heavily accumulating Long positions are reasons to be cautious. Market makers could easily wick both sides to sweep liquidity before choosing a clear direction. Avoid FOMO-buying the top here; waiting to buy the dip at support is safer than chasing into resistance.
Are you holding Longs or waiting to Short at resistance?
$BTC #Crypto #BinanceSquare #Trading
Derivatives data:
• Top Trader L/S: 1.52 (over 60% are positioned Long).
• OI: Holding firm at 7.65 billion USD.
• Slightly negative funding rate (-0.004%).
Scenario: Price is holding near the highs, but negative funding and Top Traders heavily accumulating Long positions are reasons to be cautious. Market makers could easily wick both sides to sweep liquidity before choosing a clear direction. Avoid FOMO-buying the top here; waiting to buy the dip at support is safer than chasing into resistance.
Are you holding Longs or waiting to Short at resistance?
$BTC #Crypto #BinanceSquare #Trading