#NovCryptoOutlook

26-11-24

BTC 4-hour chart outlook: Cautious

Fear and Greed: 79 (Ex, Greed), yesterday 82 (Ex. Greed)

BTC Dominance: 59.06% Dominance has increased from yesterday

Price action: Price is down 2.9% today. Price lost its 4 hour ema ribbon. There is support at 85-84k.

Premium Index: PI has increased since yesterday and currently at 0.0591 %.

Funding Rates: FR has decreased since yesterday and currently at 0.0268 %.

Open Interest: OI is at $60.676 B which has decreased from yesterday

Volume: Vol. is at $58.33 B which has increased from yesterday

To conclude: Bitcoin's recent price dip, coupled with rising premium index, paints a bearish picture for the market. increased premium index suggests speculative activity and which leads to potential price instability. While declining open interest signals some profit-taking. Heightened trading volume indicates ongoing market activity. Given these factors, a cautious approach is advised, as further downward price movements may be on the horizon.