When we look at the Coinbase premium index indicator, it did not accompany the price in the last rise. As a result, the price retreated. We are now in negative territory. I expect a break in the market for the continuation of the rise.
The funding rates indicator is falling. This is a positive data for the bull market.
The open interest rate indicator has been rising in recent days. Falling funding rate and rising Open interest indicate that people are opening Short trades. Also, a rising Open interest rate while the price is falling suggests that Short trades are being opened.
I think the price will move sideways due to the Christmas week. Then the distribution movement will start.
Written by TraderOasis
