When I first got into crypto, I only looked at the candlestick chart. Later, I learned to look at it alongside futures open interest. $JCT is a great example:
Looking at price alone, it was down 53.8% in 24 hours, so I thought longs were just closing out. But when I checked open interest, I saw it had increased by 39.52%—possibly because new shorts were piling in.
Do you usually keep an eye on open interest?
Looking at price alone, it was down 53.8% in 24 hours, so I thought longs were just closing out. But when I checked open interest, I saw it had increased by 39.52%—possibly because new shorts were piling in.
Do you usually keep an eye on open interest?
