Our algorithmic indicator has triggered a sell alert on the daily chart for Thursday, January 18, 2024. Given the mixed conditions, including a buy alert for Monday, October 23, 2023 on the weekly chart, we have elected to wait for the next buy alert. Our daily chart. The initial support level is identified by the green line on the weekly chart.
Long-term trend is rising on weekly chart
The final chart examines retail investors in Micro Bitcoin futures contracts. The price has been trending lower since the SEC revealed the approval of various spot Bitcoin ETFs. Amazingly, these small traders have not lost their enthusiasm and remain resilient. We further increased our consolidated net long position this week, and markets generally tend to react unfavorably to such solid confidence.
