Hello everyone, long term I'm still bearish but in the short term, there is a bullish structure on LTF which began with a perfect tap with nPOC. There is a high chance that price will continue to rise until it encounters demand zone which is slightly above $43000. If we get a strong rejection from that level then we should see a move down probably to CME at $40600.
Data Analysis
1. Funding Rates For Perpetual Swaps
All rates quoted are 8-hour rates. Positive funding rates suggests speculators are bullish and long traders pay funding to short traders. Negative funding rates suggests speculators are bearish and short traders pay funding to long traders. Funding rates (0.01%) is neutral. Funding rates(below 0.01%) are green colour,it's bullish .Funding rates (above 0.01%) are red color, it's bearish. The stronger the bearish or bullish sentiment, the darker the color.
2. Total $BTC Futures Open Interest
Open interest measures how many long and short contracts there are in the market. There is an equal amount of logs and shorts, but that doesn't necessarily mean that there's an equal number of long and short traders. It is used as an indicator to determine market sentiment and the strength behind price trends. Increasing open interest is typically a confirmation of the trend whereas decreasing open interest can be a signal that the trend is losing strength.
3. Total Liquidations $BTC
In the context of cryptocurrencies, forced liquidation happens when the investor or trader is unable to fulfill the margin requirements for a leveraged position.
4. Exchange $BTC Long/Short Ratio
5. Top Futures Traders Positions/Accounts
All percentages represent long percentages. U=USDT or USD Margined ,C=Token Margined,F=Futures.
Long Position % = Long positions of top traders / Total open positions of top traders
Short Position % = Short positions of top traders / Total open positions of top traders
Long/Short Ratio (Positions) = Long Position % / Short Position %
Long Account % = Accounts of top traders with net long positions / Total accounts of top traders with open positions
Short Account % = Accounts of top traders with net short positions / Total accounts of top traders with open positions
Long/Short Ratio (Accounts) = Long Account % / Short Account %
Disclaimer: Not financial advice. If you blindly follow people on the internet you deserve to lose money.
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