$ONE This wave is up 15m by 2.28%, volume/flow is 1.46x, and the Z-score is 2.69. It looks like a breakout, but OI is actually falling—15m -0.64%, 1h -0.93%. Price is up while positions are down; this is a typical short covering. It’s not new longs entering.
The closing price just nibbled through the upper edge of the last 20 of the 5m candles, with an aggressive buy order premium of 4.5%. The buy/sell ratio is 1.09—bulls have a slight edge, but not aggressively. OI’s abnormal percentile is 93.3%, ranking 10 in the whole pool; nominal change ranks only 51, which suggests the “abnormal” signal is strong, but the absolute amount isn’t large. In the past 24h, turnover is 17.86M—this pool is still rather thin.
With this kind of structure, be careful about chasing a breakout. If the short-covering push stops, it’s easy for the move to leak.
The closing price just nibbled through the upper edge of the last 20 of the 5m candles, with an aggressive buy order premium of 4.5%. The buy/sell ratio is 1.09—bulls have a slight edge, but not aggressively. OI’s abnormal percentile is 93.3%, ranking 10 in the whole pool; nominal change ranks only 51, which suggests the “abnormal” signal is strong, but the absolute amount isn’t large. In the past 24h, turnover is 17.86M—this pool is still rather thin.
With this kind of structure, be careful about chasing a breakout. If the short-covering push stops, it’s easy for the move to leak.