A weekend bull trap? Traders remain cautious as bitcoin price recovers to $ 18,000

The price of bitcoin has returned to the $ 18,000 level, but traders are still wary of the bull trap this past weekend.The price of bitcoin on November 29 exceeded $ 18,000, reaching $ 18,209 on Binance. However, traders are being cautious despite the BTC rally over the weekend.Bitcoin is currently facing resistance at around $ 18,200 and at the $ 18,200 level, traders are being cautious is trading in the short term. This is partly due to the fact that the popular micro commodity futures market continues to show a drag, and also partly due to the fact that professional traders are wary of buying bitcoin on the cheap.So they are still waiting for confirmation that the bitcoin rally will continue. But what will happen to BTC in the short term after reaching $ 18,200?The fear and greed index shows that the market is no longer in a bubble state.On the index, the "Fear" element is measured by the number of requests for loans on crypto exchanges. Requests for funding usually represents the demand for initial coin offerings (ICOS), which are used as collateral for bitcoin loans. ICOS are very common collateral for purchases, and the demand for them is expected to continue. the market.When the funding rate for a loan exceeds 10%, it means that demand for the collateral asset is high. On the other hand, when funding rates are average or negative, it means that investors do not need to worry about this.The funding rate for a bitcoin loan has been negative for several months now. This is because many investors do not believe that bitcoin will be able to repay its debt.Although the number of requests for funding has decreased, the demand for ICOS has increased. The reason for this may be that many investors do not want to risk losing out the gain of $ 10,000, which they can get for free, compared to the risk of losing out $ 100,000.The availability of funds for mining has decreased, which naturally increases the attractiveness of cryptocurrencies. On the other hand, the number of requests for ICOS has increased, which suggests that investors do not have time to gamble on the fall in prices of cryptocurrencies.Currently, the funding rate for bitcoin mining looks bearish, as does the funding rate for Ethereum mining. But it may well be that these factors will change their positions in the near term.The index does not consider long-term trades, nor do they include options. strategies that involve entering the price directly. Thus, a direct move in one direction may be accompanied by a short-term trade in that direction.A positive factor this time around is the growth of the "Buffett indicator". This indicator is related to the idea that the market tends to flow into the buyer zone when stocks are rising. Thus, when markets are overhe

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