15-11-24

BTC 4-hour chart update (CP 89796)

Fear and Greed: 80 (Ex, Greed), yesterday 88 (Ex. Greed)

BTC Dominance: 61.18% Dominance has increased from yesterday

Price action: Price took support from the 30 ema and currently trading above the 8 ema.  

Premium Index: PI has decreased since yesterday and currently at 0.0086 %.

Funding Rates: FR has increased since yesterday and currently at 0.0195 %.

Open Interest: OI is at $51.843 B which has decreased from yesterday

Volume: Vol. is at $49.954 B which has decreased from yesterday

To conclude: Premium index has decreased which is one bullish sign since the spot market gained influence over speculative instruments. The funding rates have increased which highlight the bullish trader sentiment, as they are opening longs. Market liquidity has decreased, both the open interest and trading volume are down from yesterday. It is only natural that price is cooling off after such a bullish couple of weeks. However, the outlook for weekend is neutral leaning bearish. This does not mean capitulation but rather a short-term consolidation.