❗️Guys still trying to buy the dip, pause your long positions for a moment
The market picture is becoming clearer now.
The daily downtrend and uptrend volumes for $BTC are about the same—there's been no volume spike.
Although the funding rate is still positive (0.00457%), it's already noticeably lower than before, and bullish sentiment continues to cool.
More importantly, look at open interest:
Price falls, OI rises.
Price rises, OI falls instead.
This suggests that shorts are actively opening positions during the decline.
The rebound is mostly short positions getting squeezed closed, not new longs entering the market.
CVD has also been slowly trending downward, with aggressive selling pressure dominating. Bulls really are weak.
Price has already fallen below MA5, MA10, and MA30, with the moving averages in bearish alignment.
The long/short ratio is also below 1.
At the moment, there are no signs that the downtrend is about to stop, nor any sign of strong bulls preparing for a rebound.
Are you still waiting to buy the dip on a rebound, or are you ready to admit defeat? 😭
#Crypto #BTC
The market picture is becoming clearer now.
The daily downtrend and uptrend volumes for $BTC are about the same—there's been no volume spike.
Although the funding rate is still positive (0.00457%), it's already noticeably lower than before, and bullish sentiment continues to cool.
More importantly, look at open interest:
Price falls, OI rises.
Price rises, OI falls instead.
This suggests that shorts are actively opening positions during the decline.
The rebound is mostly short positions getting squeezed closed, not new longs entering the market.
CVD has also been slowly trending downward, with aggressive selling pressure dominating. Bulls really are weak.
Price has already fallen below MA5, MA10, and MA30, with the moving averages in bearish alignment.
The long/short ratio is also below 1.
At the moment, there are no signs that the downtrend is about to stop, nor any sign of strong bulls preparing for a rebound.
Are you still waiting to buy the dip on a rebound, or are you ready to admit defeat? 😭
#Crypto #BTC
