BTW is up 36.1% with BR and REZ moving alongside it, DeFi moving as a group, and funding says longs are crowded.
Open interest on BTW rose over the same period, and volume ran well above its 7 day average. There is no matching news behind the move, and this is BTW's second day of a DeFi sector run alongside BR and REZ.
Rising open interest with rising price points to fresh positions opening, not just longs from yesterday holding on. But hot funding means those longs are paying up to stay in, a sign the trade is crowded again. If open interest keeps building with price, that backs continued demand across the sector. If price stalls while funding stays hot, a flush of crowded longs becomes the more likely path.
What would make this wrong: If BTW keeps climbing while funding cools back toward flat, the crowding read was wrong and this was clean demand absorbing sellers.
Did you catch BTW's move today, or see it after the fact?
The sizing images: a $10,000 demo account at 1% risk, long and short with the same stop, one typical daily move away. Both sides, because this is not a call.
And two alerts on the demo account, one above today's high and one below today's low, instead of guessing which way it breaks.
Not advice.
Size a trade on BTW before you take one: creviacockpit.com/n/24481
Follow for the levels that matter, every day.
$BTW
#TradingPsychology #Crypto #CreviaCockpit | creviacockpit.com/lessons
Open interest on BTW rose over the same period, and volume ran well above its 7 day average. There is no matching news behind the move, and this is BTW's second day of a DeFi sector run alongside BR and REZ.
Rising open interest with rising price points to fresh positions opening, not just longs from yesterday holding on. But hot funding means those longs are paying up to stay in, a sign the trade is crowded again. If open interest keeps building with price, that backs continued demand across the sector. If price stalls while funding stays hot, a flush of crowded longs becomes the more likely path.
What would make this wrong: If BTW keeps climbing while funding cools back toward flat, the crowding read was wrong and this was clean demand absorbing sellers.
Did you catch BTW's move today, or see it after the fact?
The sizing images: a $10,000 demo account at 1% risk, long and short with the same stop, one typical daily move away. Both sides, because this is not a call.
And two alerts on the demo account, one above today's high and one below today's low, instead of guessing which way it breaks.
Not advice.
Size a trade on BTW before you take one: creviacockpit.com/n/24481
Follow for the levels that matter, every day.
$BTW
#TradingPsychology #Crypto #CreviaCockpit | creviacockpit.com/lessons
