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Open positions of eth perpetual contracts on bitfinex hit a 14 month low

2022-06-06
1449
Fundamental analysis:

Ethereum remained volatile around 1743. According to glassnode data, the open positions of eth perpetual contracts on bitfinex just hit a 14 month low of $367278407.17.


Ethereum ethusdt - 4-hour K-line diagram display:




Technical comments: the short power continued to fluctuate downward in the Bollinger belt index channel. After the low level reached the node at position 1734, there was a continuous downward trend. The short trend of the Bollinger belt index was good. In the early stage, the node near the low level 1706 was about to break. The MACD index remained weak in the short area below the axis 0, and the RSI index was under the 50 equilibrium line and kept fluctuating downward;


Long short turning point: 1786


Pressing position: 1872, 1956


Support position: 1661, 1592


Trading strategy: 1786 down bearish, target 1661, 1592


Alternative strategy: upward bullish in 1786, target 1872, 1956


The above analysis is a personal point of view and is for reference only.

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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