The wider cryptocurrency market is looking pretty green today as
bullish sentiment begins to creep back into the Bitcoin charts — with some signs starting to suggest the bears are becoming exhausted.
Our goal is not only for traders to score large profits in good market conditions, but to make sure they don't give back those profits when
the bullish sentiment begins eroding.
Not exact matches
This
bullish sentiment is shared by Mike McGlone, senior commodities analyst with Bloomberg Intelligence, who writes that commodities» strong performance in July «could be the
beginning of a trend.»
For the near - term, the U.S. market had a relief rally at the end of the day on Friday, Feb. 9, so that short - term
bullish sentiment could carry over into the
beginning of the week.
As an example, in January 2018, hedge fund
sentiment on bitcoin went
bullish for the first time since the Commodity Futures Trading Commission (CFTC)
began publishing reports on bitcoin positions.
If market
sentiment is very
bullish, as for example at the
beginning of a broad rally, the investments at the aggressive end of the barbell will typically perform well.
Respondents remain
bullish, but the
sentiment has
begun to shift slightly.