BRUSDT IS UP +177% — BUT SHORTS ARE STILL HEAVILY CROWDED
Bedrock has delivered another explosive move, climbing from around $0.20 to a 24H high of $0.71377 before pulling back toward $0.585.
The derivatives data is what caught my attention.
Open Interest has continued climbing, reaching roughly 70M BR contracts, with notional OI around $42M. At the same time, the Top Trader Long/Short data shows a strong imbalance toward short accounts.
That creates an interesting situation: price is pulling back, but traders are still aggressively positioning for downside.
On the 4H chart, BR remains above the MA25 at $0.4267 and MA99 at $0.3064, while MA7 sits around $0.6108.
My levels:
• Resistance: $0.610–$0.655 • Major resistance: $0.7138 • Support: $0.515–$0.550 • Stronger support: ~$0.4267
If BR reclaims $0.61 and shorts remain crowded, a move back toward $0.655–$0.714 could put significant pressure on short positions.
But losing the $0.515 area would weaken the immediate bullish structure.
For me, the key thing to watch now isn't just price — it's whether Open Interest keeps rising while BR holds support.
Not financial advice. Manage risk carefully.
#OstiumLoanDisputeHearingSetInNYFederalCourt
Bedrock has delivered another explosive move, climbing from around $0.20 to a 24H high of $0.71377 before pulling back toward $0.585.
The derivatives data is what caught my attention.
Open Interest has continued climbing, reaching roughly 70M BR contracts, with notional OI around $42M. At the same time, the Top Trader Long/Short data shows a strong imbalance toward short accounts.
That creates an interesting situation: price is pulling back, but traders are still aggressively positioning for downside.
On the 4H chart, BR remains above the MA25 at $0.4267 and MA99 at $0.3064, while MA7 sits around $0.6108.
My levels:
• Resistance: $0.610–$0.655 • Major resistance: $0.7138 • Support: $0.515–$0.550 • Stronger support: ~$0.4267
If BR reclaims $0.61 and shorts remain crowded, a move back toward $0.655–$0.714 could put significant pressure on short positions.
But losing the $0.515 area would weaken the immediate bullish structure.
For me, the key thing to watch now isn't just price — it's whether Open Interest keeps rising while BR holds support.
Not financial advice. Manage risk carefully.
#OstiumLoanDisputeHearingSetInNYFederalCourt
