Is Bitcoin Ripe For A Reversal?
Will Clemente believes Bitcoin is showing a bullish signal and we are due for a reversal:
Several metrics indicate Bitcoin is ripe for a reversal, according to on-chain crypto analyst Will Clemente.
Clemente tells his 126,400 Twitter followers that Bitcoin Perpetual Futures funding has been negative recently, which he says is a bullish signal.
“Funding has now been negative for 11 days straight. Translation: Shorts are paying longs to keep their positions open. As a rule of thumb, for anyone not familiar with how funding works:
Prolonged high funding = Bearish
Prolonged negative funding = Bullish”
