Key metric linked to the place in Nasdaq of Blackrock The fund quoted by Exchange, Ibit, has been intermitting warning signals for two consecutive months.
The collection bias of one year of Ibit, a measure of feeling of the market or pessimism, turned positive on July 25 and has remained comfortably above zero since then, according to the chameleon of the data source market. That is two consecutive months of downspout bias.
In other words, merchants have constantly favored the protective positions of the bullish calls for two months, indicating a sustained perspective of caution or with risk restructuring.
A similar sale option was observed from March 8 to April 21 of this year, a period marked by strong decreases both in the spot and IBIT price, mainly driven by the weakness induced by the commercial war on Wall Street.
Ibit’s upward trend has stagnated
Ibit’s prices trend has stagnated since July, failing several times to exceed the level of $ 70. Recently, it formed a “lower maximum” to $ 66, which means that the recent maximum price was lower than the previous maximum about $ 70.
This pattern points out that they weaken the purchase pressure and suggests that sellers are gaining strength. The formation of lower ups and downs often indicates a possible bearish trend or bearish impulse.
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