BTC price looks calm, but the bulls’ switch is still off.
It’s up 0.15% over the past day compared with this time yesterday.
The long/short ratio for the top-ranked $JCT is anything but calm—huh?
Over the past day, $JCT ’s long/short ratio rose from 0.4784 to 0.6168.
Over the same period, the price fell 6.0% compared with this time yesterday.
The runner-up, $AIOT , edged up over the past day.
Next is $IDOL , with a bigger gain over the same period.
I’m bearish: rising enthusiasm didn’t support the price, which makes more sense than solid buying pressure.
But large holders are more bullish than yesterday, hmm—so I’ll only keep a slight bearish bias.
The bulls treat enthusiasm as support; I call it “heating up the thermometer and claiming the bed is warm.”
Let price levels do the talking:
If 0.00737 breaks down, my overheated-enthusiasm call will have its answer.
If 0.0125 breaks through, then I got this bearish take wrong.
Would you chalk the 6.0% drop up to enthusiasm failing, or see it as a pause in the recovery?
#JCT #Market Analysis
Data from publicly available Binance market data. Not investment advice.
It’s up 0.15% over the past day compared with this time yesterday.
The long/short ratio for the top-ranked $JCT is anything but calm—huh?
Over the past day, $JCT ’s long/short ratio rose from 0.4784 to 0.6168.
Over the same period, the price fell 6.0% compared with this time yesterday.
The runner-up, $AIOT , edged up over the past day.
Next is $IDOL , with a bigger gain over the same period.
I’m bearish: rising enthusiasm didn’t support the price, which makes more sense than solid buying pressure.
But large holders are more bullish than yesterday, hmm—so I’ll only keep a slight bearish bias.
The bulls treat enthusiasm as support; I call it “heating up the thermometer and claiming the bed is warm.”
Let price levels do the talking:
If 0.00737 breaks down, my overheated-enthusiasm call will have its answer.
If 0.0125 breaks through, then I got this bearish take wrong.
Would you chalk the 6.0% drop up to enthusiasm failing, or see it as a pause in the recovery?
#JCT #Market Analysis
Data from publicly available Binance market data. Not investment advice.
