Bitcoin (BTC) fell below $ 92,000 during the day after day, revisiting levels that have been revealed several times since December. However, the last decision is accompanied by a significant increase in the open interest of perpetual term contracts and prices which indicates the domination of the seller.
The number of open bets open or open interest in the BTC / USDT trading in Binance pair increased by around 12,000 BTC (worth more than $ 1 billion), because the price of BTC has passed From $ 96,000 to $ 92,000, according to data followed by Coiglass.
An increase in interests open in parallel with a drop in prices would represent an influx of short lowering positions. In other words, traders have probably opened short films as the price fell, perhaps in anticipation of an extended sale.
The Cumulative Delta (CVD) volume on future and the exchange markets of the exchange was already negative and deepened with the drop in prices, which indicates that the sales pressure has exceeded the purchase activity.
The MCV measures net capital on the market, where positive and growing figures indicate the domination of buyers, while negative values reflect increased sales pressure.
BTC makes the Marubozu candle jostling
Bitcoin dropped 4.86% on Monday, sellers overlooking prices throughout the day.
This is reflected in the shape of the Monday candlestick, which has negligible upper and lower shadows and a prominent red body. In other words, the opening and fence prices are almost the same, the panel buyers had no word to say in the price of prices.
Technical analysts classify this as a lower lower Marubozu model. The appearance of the downstream candlestick while prices hover below the medium of moving 50 and 100 days (SMA) can embrace sellers, potentially driving deeper losses.
The support (s) is observed nearly $ 89,200, the lowest of January 13, followed by the 200 -day SMA at $ 81,661. On the other hand, on February 21 of February 21 of around $ 99,520 is the level to beat (R).
