“Ibit’s price Uptrend has stalled since july.”, – WRITE: www.coindesk.com
Ibit’s One-YEAR PUT-CALL SKEW, A MEASURE OF MARKET SENTIMENT OR PESIMISM, FLIPPED POSITIVED ON JULY 25 AND HAS REMAINED Comfortable Above Zero Since Tht. That’s Two Straight Months of Bearish Put Bias.
In Other Words, Traders Have Consistently Favored Protective Puts Over Bullish Calls for Two Months, Signaling a Sustaned Cautious or Risk-Averse Outlook.
A Similar Put Option Bias Was Observed From March 8 to April 21 this year, a period Marked by Sharp Declines in Both the Spot Price and Ibit, Primarily Driven by the Trade War
Ibit’s Uptrend have has stalledIbit’s Price Trend Has Stalled Since July, Failing Multiple Times to Rise Above the $ 70 Level. Recently, It Formed a “Lower High” at $ 66, Meaning The Recent Peak Price Was Lower Than the Previos High Near $ 70.
This Pattern Signals Weakening Buying Pressure and Suggests that Selers Are Gaining Strength. The Formation of Lower Highs offen Indicates A Potential Downtrend or Bearish Momentum.
Ibit has establized a lower high. (TradingView/Coindesk)
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