Bitcoin price has stopped, but traders still hope to hit a new high of $ 80,000 in January

The price of Bitcoin has encountered resistance as it was 7.75% below its all-time high, but traders are still aiming to hit the $ 80,000 mark in January, according to data derivatives.

Choosing a time for testing is always tricky, but often the longer the difference, the stronger it will be. For example, Bitcoin's 3-day chart analysis will not need to determine the pattern of growth that began in late June.

Bitcoin hit an all-time high after consumer prices in the United States rose 6.2%, the biggest gain in 30 years, but the Air Force will still find ways to gauge its sentiment.

However, data from chain analytics firm Glassnode shows that long-term investors have given up on saving and now face a variety of risks. The recent sell-off in this market is the first in six months and heralds a "strong sell" signal, according to analyst Willian Clement.

It should be noted that on November 14, the Bitcoin network was updated to improve scripting capabilities and privacy. Through sales, this design is able to “sell the signal” as communities want these improvements to be meaningful.

Data shows professional traders remain bullish on average.

In order to understand the thinking of an expert trader, we must identify the prospects for the future. This metric, commonly referred to as the future payment rate, measures the difference between a long-term contract and the current market level.

In the healthcare market, a rate of 5 to 15% per year is desirable, which is called contango. This price difference is due to the seller asking for more money to delay the payment.

The benchmark rose to 20% on November 9 as Bitcoin gained 14% in three days. A short period of oversupply allowed Bitcoin to recover 9% after peaking at $ 69,100 on November 10.

The benchmark index is currently well above 12%, which still indicates investor confidence.

Different views on options traders

Industry choice should be identified to eliminate external factors from future product operations.

The 25% delta asymmetry indicator compares similar call (buy) and offer (sell) options. When there is a risk, this measure is effective because the cost of the protection option is greater than the call option for a similar risk.

When expectations are high, the status quo is reversed so that the 25% delta asymmetry indicator turns negative.

A slope indicator of -8% (desire) and 8% (fear) is considered medium. September 29 was the last time the indicator crossed the range and hit 10%. Interestingly, on the same day, the bear market also ended on the 23rd, bringing Bitcoin down from US $ 52,700 to US $ 41,000 on September 6.

The current average temperature of 25 ° lta skew can be interpreted as "still room for improvement" as the opinion of traders is 95% until this year.

The data shows that there is still room for Bitcoin buyers to increase their leverage, and the best price will continue to trade on the ascending channel from the end of June.