16-05-25

BTC 4-hour chart outlook: Cautiously Optimistic

Fear and Greed: 71 (Greed), yesterday 70 (Greed)

BTC Dominance: 63.19 % Dominance has increased from yesterday

Price action: Price has increased slightly since the close of yesterday. It has been trading sideways for the past couple of days.

Premium Index: PI has increased since yesterday and currently at -0.0354 %.

Funding Rates: FR has increased since yesterday and currently at 0.0053 %.

Open Interest: OI is at $51 B which has increased from yesterday

Volume: Vol. is at $25.6 B which has increased from yesterday

To conclude: Both funding rates and premium index have increased and this point to a more optimistic market outlook, creating an opportunity for upward price action. While open interest has declined which suggests traders closed their positions and wait for the price to show directional bias. Although this reduces volatility but it also means uncertainty remain among traders. The trading volume has increased which highlights increased buyer demand which may fuel a sustained rally.