TSMC’s Q3 revenue hit a record high, and its earnings guidance on computing power and chip demand indirectly affects sentiment around AI computing tokens such as CL. I expect market participants to become more divided in the short term, making the rebound’s sustainability uncertain.

Market overview: The current price is 92.58, up 1.5% over 24 hours, with a trading volume of 11.76 million. However, the bid-to-ask ratio across the top 10 order-book levels is just 0.54, indicating clear selling pressure. The funding rate of -0.0839% means shorts are paying, while open interest stands at 369,000 coins in coin-margined contracts. The price is rising on the 1-hour chart but remains constrained by the 4-hour downtrend; it is 3.44% below the 4-hour high, and bullish momentum is weak.

Strategy: Consider a small short position at 93.15, with a stop-loss at 94.27 and a target of 89.67. If the price retests 89.43 and stabilizes, consider a short-term long position, with a stop-loss at 88.31 and a target of 92.11. Keep position size below 20% and beware of a short squeeze amid negative funding rates.

——These are just my personal views and do not constitute investment advice. Happy trading!——

$CL#TSMC's Q3 revenue hits a record high. What else should we look for in its October 15 earnings report?