Technical analysis by Wakandian about Symbol BTC: Buy recommendation (6/4/2023)

May 30th Cot report looks interesting Based on the COT report data, the changes in commercial positions are as follows: Long positions: Increased by 83 contracts Short positions: Decreased by 538 contracts To calculate the net positions, you subtract the short positions from the long positions. In this case, the net positions for commercials can be calculated as follows: Net positions = Long positions - Short positions Net positions = 83 - (-538) Net positions = 621 Therefore, the net positions for commercials are 621 contracts. It indicates an increase in net long positions for commercials, not net short positions. Based on the provided COT report data, the changes in non-commercial positions are as follows: Long positions: Decreased by 1,084 contracts Short positions: Decreased by 378 contracts To calculate the net positions, you subtract the short positions from the long positions. In this case, the net positions for non-commercials can be calculated as follows: Net positions = Long positions - Short positions Net positions = -1,084 - (-378) Net positions = -706 Therefore, the net positions for non-commercials are -706 contracts. It indicates a decrease in net long positions for non-commercials, but keep in mind that the value is negative, indicating a net short position for non-commercials in this case. Let's analyze the data for Bitcoin Micro (Code-133742) based on the provided COT report: Total open interest: 6,569 contracts Non-Commercial Positions: Long positions: 3,803 contracts Short positions: 5,543 contracts Spreading positions: 214 contracts Commercial Positions: Long positions: 145 contracts Short positions: 0 contracts Net Positions: To calculate the net positions, you subtract the short positions from the long positions. In this case, the net positions for non-commercials can be calculated as follows: Net positions = Long positions - Short positions Net positions = 3,803 - 5,543 Net positions = -1,740 Therefore, the net positions for non-commercials in Bitcoin Micro are -1,740 contracts, indicating a net short position. Changes from May 23, 2023: Long positions: Decreased by 2,596 contracts Short positions: Decreased by 2,412 contracts Percent of Open Interest: Non-commercial long positions: 57.9% of open interest Non-commercial short positions: 84.4% of open interest Commercial long positions: 3.3% of open interest Commercial short positions: 2.2% of open interest Number of Traders: Non-commercial traders: 50 Commercial traders: 31 Percent of Open Interest Held by the Largest Traders: Long positions: 14.8% held by 4 or less traders, 24.4% held by 8 or less traders Short positions: 60.3% held by 4 or less traders, 72.7% held by 8 or less traders Overall, the COT report suggests that non-commercial traders in Bitcoin Micro have a net short position, and there has been a decrease in both long and short positions compared to the previous reporting period.