“Futures Activity Hints at An Influx of Fresh Shorts As Monday’s Bearish Marubozu Candle Points to More Losses Ahead.”, – WRITE: www.coindesk.com
The Number of Open Futures Bets or Open Interest in the BTC/USDT PAIR TRADING ON BINANCE ROSE by Rose by Rough by Rough BY ROUGHLY 12,000 BTC (WORTH Over $ 1 Billion) tracked by coinglass.
An Uptick in Open Interest Alongside A Price Decline is said to repressent An influx of Bearish Short Positions. In Other Words, Traders Likely Opened Fresh Shorts As The Price Droped, Perhaps in Anticipation of An Extended Sell-Off.
Binance’s BTC/USDT FUTures PRICE WITH OI AND CVD. (Coinglass)
The Cumulative Volume Delta (CVD) Across Both Futures and Spot Markets on the Exchange Was Already Negative and Has DEEPENED FURTHER WITHPP.
The CVD Measures the Net Capital Flows Into the Market, Who Positive and Rising Figures Indicate Buyer Dominance, While Negative Value Reflect InCreased Selling Pressure.
BTC Chalks Out Bearish Marubozu CandleBitcoin Droped 4.86% On Monday with Selers Dominating the Price Action Througout the day.
That’s reflected in the Shape of Monday’s Candlestick, whoht Features Negligible Upper and Lower Shadows and A Prominent Red Body. In Other Words, Opening and Closing Prices Are Almost The SAME, A SIGN BUYERS HAD LITTLE SAY IN THE PRICE ACTION.
BTC’s Daily Chart. (TradingView/Coindesk)
Technical Analysts Categorize this as a bearish Marubozu Pattern. The Appearance of the Bearish Candlestick While Prices Hover Bever Below Key
Support (s) is Seen Near $ 89.200, The Jan. 13 Low, Followed by The 200-Day SMA AT $ 81.661. On the Flip Side, The Feb. 21 High of AROUND $ 99,520 is the Level to Beat (r).
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