#NovCryptoOutlook

16-11-24

BTC 4-hour chart outlook: Cautious

Fear and Greed: 86 (Ex, Greed), yesterday 80 (Ex. Greed)

BTC Dominance: 60.14% Dominance has decreased from yesterday

Price action: Price traded in a tight range of $500 today.

Premium Index: PI has increased since yesterday and currently at 0.0329 %.

Funding Rates: FR has increased since yesterday and currently at 0.0187 %.

Open Interest: OI is at $53.364 B which has increased from yesterday

Volume: Vol. is at $34.696 B which has decreased from yesterday

To conclude: The trader sentiment is quite bullish as witnessed by rising funding rates. The premium index has increased which signifies rising influence of speculative forces on BTC’s price. While open interest has increased the trading volume has decreased. This mean we might see a consolidation period. For these reason traders must remain cautious for the short term while the uptrend is still intact.