Yello, ParadiseClub Members! 😎 Are you feeling the market’s chill lately? Let’s break down what’s cooking beneath the surface:
💎For the past two months, there’s been a noticeable dip in the Futures Sentiment Index—basically, this is a tool to measure the sentiments of traders. Traders are not just feeling a little down; they’re actively closing out their long positions and more people are betting it will fall. This month, there’s been a 20% drop in active bets which is why Bitcoin traders are stepping back to see what will happen next.
💎What do the ParadiseTeam Professional Traders think of this? The overall market outlook for the end of this week leans towards neutral-negative. However, it’s not all doom and gloom. This pervasive negativity and the buildup of short positions could actually set the stage for a rebound. Sometimes, the market needs to pull back a bit and let panic sellers leave before it can start climbing again.
Stay focused, patient, and disciplined, Paradisers🥂
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