Lemme explain why $BICO is getting interesting again.
First, Open Interest is rising sharply, which tells me new positions are entering the market.
At the same time, trading volume is increasing fast. In fact, this is the highest trading volume $BICO has ever seen, while the price is still trading near its historical lows.
Funding is still negative, which means many traders are still betting against the move.
We can also see that around 62% of trader accounts are short, while top trader positions are slightly long.
Another thing I noticed is the largest short liquidation zone around $0.055–$0.060. If buyers stay in control, this could be the next area the price moves toward.
In my view, all these signals are starting to line up. Record-high volume, rising Open Interest, negative funding, and a market where most traders are still short make this a very interesting setup.
If buyers keep the momentum, I think $BICO could be preparing for its next big move.
Just my personal view based on the data I’m tracking.
NFA. DYOR.
First, Open Interest is rising sharply, which tells me new positions are entering the market.
At the same time, trading volume is increasing fast. In fact, this is the highest trading volume $BICO has ever seen, while the price is still trading near its historical lows.
Funding is still negative, which means many traders are still betting against the move.
We can also see that around 62% of trader accounts are short, while top trader positions are slightly long.
Another thing I noticed is the largest short liquidation zone around $0.055–$0.060. If buyers stay in control, this could be the next area the price moves toward.
In my view, all these signals are starting to line up. Record-high volume, rising Open Interest, negative funding, and a market where most traders are still short make this a very interesting setup.
If buyers keep the momentum, I think $BICO could be preparing for its next big move.
Just my personal view based on the data I’m tracking.
NFA. DYOR.