$SOL 72.06, bounced 7% from the overnight low of 67.35.
What I see: there are 3.3 longs for every short, funding is around zero, and open interest is down 1.6% over the past 24 hours. The price is rising without new positions, which looks like short covering.
What I think: above us on the liquidation map are shorts at 73.6 (the largest bar, around 4M) and at 74.7. Based on volatility, the chance of hitting these levels before 21:00 is: 73.6 — around 56%, 74.7 — around 32%; to the downside, 69.8 — around 38%, 68.6 — around 17%.
What would change my mind: BTC drops below 64,000 again. Then SOL will most likely go test the longs at 69.8.
I’ll check this evening to see if it played out. Subscribe to see how it goes.
Not financial advice.
Which comes first: 73.6 or 69.8?
#sol #криптовалюта #Трейдинг
What I see: there are 3.3 longs for every short, funding is around zero, and open interest is down 1.6% over the past 24 hours. The price is rising without new positions, which looks like short covering.
What I think: above us on the liquidation map are shorts at 73.6 (the largest bar, around 4M) and at 74.7. Based on volatility, the chance of hitting these levels before 21:00 is: 73.6 — around 56%, 74.7 — around 32%; to the downside, 69.8 — around 38%, 68.6 — around 17%.
What would change my mind: BTC drops below 64,000 again. Then SOL will most likely go test the longs at 69.8.
I’ll check this evening to see if it played out. Subscribe to see how it goes.
Not financial advice.
Which comes first: 73.6 or 69.8?
#sol #криптовалюта #Трейдинг
