$MYX This 15-minute move directly wiped out 4.5%—the trading volume jumped to 3.3x, and the price broke below the low of the 5-minute K line that had 20 bars. It looks like a big bearish candle, but something isn’t quite right underneath—OI is still increasing, while the contract notional has shrunk. That suggests leveraged shorts are running to enter, not a simple dump; someone is adding new positions to push the price down.
Is it passive trading or seller-dominated? The buy/sell ratio is 0.81. Honestly, if this kind of sell-off were just a battle within existing positions, it would be tolerable. But combined with an abnormal OI percentile of 98%—the most extreme signal in the entire pool—the short-term bearish sentiment is already maxed out.
Whether you can chase a short from this level depends on how the prior historical extreme zone before it behaved. The 24h volume of 8.75M isn’t small for this pool; liquidity is there, and volatility shouldn’t be tiny either. If it breaks down, follow the momentum—but don’t ignore abnormal volatility of this magnitude; there’s a decent chance of whipsawing with repeated spikes and dips.
Just watch for a pullback to confirm, and don’t gamble on a reversal from a spot like this.
Is it passive trading or seller-dominated? The buy/sell ratio is 0.81. Honestly, if this kind of sell-off were just a battle within existing positions, it would be tolerable. But combined with an abnormal OI percentile of 98%—the most extreme signal in the entire pool—the short-term bearish sentiment is already maxed out.
Whether you can chase a short from this level depends on how the prior historical extreme zone before it behaved. The 24h volume of 8.75M isn’t small for this pool; liquidity is there, and volatility shouldn’t be tiny either. If it breaks down, follow the momentum—but don’t ignore abnormal volatility of this magnitude; there’s a decent chance of whipsawing with repeated spikes and dips.
Just watch for a pullback to confirm, and don’t gamble on a reversal from a spot like this.