CRV This move is a bit interesting.
In 15 minutes it pulled up 1.57%. It may not look like much, but the volume was directly pushed to 1.53x. The volatility percentile also jumped to 3.24—clearly, there’s money making moves. The most important part is—price is rising, but OI is falling. That basically indicates short covering, not new longs being added.
So the “quality” of this rally is actually worth questioning. Don’t be fooled by the headline gains. Active buy/sell is above 4.18—the bids are indeed fierce—but remember, this is more a result of forcing stop-losses and squeezing shorts, not incremental capital entering the market.
That said, the close broke through the upper edge of the range formed by the last 20-plus K-lines, and it also landed on the abnormal ranking list for the whole pool. In the short term, the sentiment is definitely leaning toward it.
Whether you chase it or not depends on your style. As for this structure, I personally prefer to wait for a pullback and confirmation before making a move.
In 15 minutes it pulled up 1.57%. It may not look like much, but the volume was directly pushed to 1.53x. The volatility percentile also jumped to 3.24—clearly, there’s money making moves. The most important part is—price is rising, but OI is falling. That basically indicates short covering, not new longs being added.
So the “quality” of this rally is actually worth questioning. Don’t be fooled by the headline gains. Active buy/sell is above 4.18—the bids are indeed fierce—but remember, this is more a result of forcing stop-losses and squeezing shorts, not incremental capital entering the market.
That said, the close broke through the upper edge of the range formed by the last 20-plus K-lines, and it also landed on the abnormal ranking list for the whole pool. In the short term, the sentiment is definitely leaning toward it.
Whether you chase it or not depends on your style. As for this structure, I personally prefer to wait for a pullback and confirmation before making a move.