“A rise means fresh money taking the baton”—but with
$IDOL , hey~ open interest is already undermining that claim.
Open interest over the past six hours is down 1.55% from six hours earlier.
Over the same period, the price is up 6.56%.
Late-night ledger check: no newcomers or exits on today’s list;
$IDOL closed higher over the past day.
$ARIA also rose over the same period.
$ICNT fell over the same period.
I lean bearish, and find it more convincing that positions are being closed as prices rise. For now, I don’t buy the idea of fresh money taking the baton.
The trend still leans bullish, though—that’s evidence against my view, so I’ve toned down my bearishness.
The bulls treat the gain as proof of a handoff. Pfft~ I call it “using the residual heat in a covered pot as proof that the stove’s been turned back on.”
Leaving a revision switch on this night-time take:
If 0.0196 breaks, I’ll keep writing this bearish view.
If 0.0242 is breached, I’ll delete the bearish call and admit I read it wrong.
Which explanation gets your stamp of approval:
“1.55% takes the shine off the handoff,”
or “1.55% gives the rally room to run”?
#IDOL #MarketRecap
Data from Binance public market quotes; not investment advice