$CYS This move smashed pretty hard—within 15 minutes, it’s down 12.76%, with volume surging to more than 5 times the usual daily level.
It looks like the long side is lining up to hand over their guns; the OI is down 16%—a straight-up deleveraging cascade. Price also broke below the lower bound of the short-term structure, so for now the bias is bearish.
But don’t rush to chase. This level has already reached the historical extreme zone—abnormal percentile is maxed out at 100%, the kind where it ranks first in the entire pool.
Volatility is too high; a wick could come at any time, and the shorts may not be easy either.
Wait for the sentiment to cool off before judging again. With volume at this scale, at minimum it’s a warning signal.
It looks like the long side is lining up to hand over their guns; the OI is down 16%—a straight-up deleveraging cascade. Price also broke below the lower bound of the short-term structure, so for now the bias is bearish.
But don’t rush to chase. This level has already reached the historical extreme zone—abnormal percentile is maxed out at 100%, the kind where it ranks first in the entire pool.
Volatility is too high; a wick could come at any time, and the shorts may not be easy either.
Wait for the sentiment to cool off before judging again. With volume at this scale, at minimum it’s a warning signal.
