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Traders are confident in the decline in prices of ETN and BTC

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Traders put on a drop in the price of Ethereum (ETH) quite large sums. Bitcoin shorts (BTC) also indicate a bearish mood. But short positions on the air for 10 days increased at a record pace. New positions are being opened constantly, and many are betting on the price cut to $ 200. At the time of writing, the coin is traded at $ 211.

The trend in ETN shorts became more confident when the price of the airline recently dived below $ 200. It is interesting that long positions (purchase of an asset) also rose to record levels. Opinions in the market were divided approximately equally, and each camp is firmly convinced that the ether will move to its advantageous side.

Traders also expect Bitcoin to experience a jump in volatility and bring down the price. And this can happen at any time due to the fall in trading volumes – in 24 hours to about $ 3.9 billion.

The technical indicators of the previous days also added weight to the negative forecasts for the upcoming week. Mt.Gox continues pressure sales, the forthcoming closing of futures and the airborne SEC decision regarding bitcoin-ETF – all this is considered as factors for the decline in prices of military-technical cooperation and altcoyins.

Peak shorts in opposite directions are due to lack of clarity. Earlier it was believed that the bull rally would start in September and October, as it used to be, but now the hopes for this have faded. Few people view this as a possible option.

And what do you think? Do you play in this market and on whose side?