16-12-25

BTC 4-hour chart update (87411)

Fear and Greed: 11 (Ex. Fear), yesterday 16 (Ex. Fear)

BTC Dominance: 59.44% Dominance has increased from yesterday

Price action: Price facing resistance from the lower limit of the channel and ema ribbon.

Premium Index: PI has decreased since yesterday and currently at - 0.0526 %.

Funding Rates: FR has increased since yesterday and currently at 0.0055 %.

Open Interest: OI is at $60.92 B which has increased from yesterday

Volume: Vol. is at $19 B which has increased from yesterday

To conclude: The decrease in premium index signals spot
market activity influencing price more than derivatives trading. The traders’ sentiment is also bullish as evident from the increase in funding rates. The open interest has increased which increases market pressure on price and may lead to volatility. Trading volume has increased showing renewed interest and improved engagement. Traders must remain aware that price has not broken back into the channel and still facing resistance from the lower limit. Without price reclaiming the channel this uptick in price could just be a dead cat bounce.