Technical analysis of this week’s crypto trading market
The bearish sentiment is expected to remain intact as OKEx’s data shows that futures traders have shown less optimistic about where bitcoin prices will finish by the year-end. However, other data suggest that near-term selling pressure has been somewhat eased. While the risk-off appetite persists in the crypto space, the Fear & Greed Index has reached 17, the lowest since late September, indicating that investors could be overly worried about the market.
Looking ahead, OKEx Technicals expects the market will show signs of stability after a series of selloffs as the selling pressure absorbed. Although the short term outlook could still be bumpy, the recent corrections could create buying opportunities for long-term HODLers.
What You Missed
Figure 1: BTCUSDT Daily Chart (Source: OKEx; Tradingview)
Figure 2: OKEx BTC Quarterly Futures Basis (Source: OKEx)
Figure 3: OKEx BTC Long/Short Ratio (Source: OKEx)
Figure 4: BTC Performance Since 2H15 in Log Scale (Source: Tradingview)
Figure 5: ETHBTC Daily Chart (Source: OKEx; Tradingview)
Figure 6: LTCBTC Daily Chart (Source: OKEx; Tradingview)
Figure 7: XRPUSDT Daily Chart (Source: OKEx; Tradingview)
Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.