BANK this surge has a bit of interest.
Over a 15-minute period, it’s up 1.14%, but what’s truly worth paying attention to is the structure behind it—price is moving up while OI is shrinking, which feels closer to a short covering than momentum driven by new long positions. After breaking above the upper bound of the range formed by nearly 20 consecutive 5-minute K-lines, active turnover is up 20.6%, with a buy/sell ratio of 1.52—sell pressure does seem to be easing.
In terms of nominal changes across the whole pool, it ranks at #32, and the depth has been confirmed as well; it’s not a fake breakout created by a single needle piercing through. However, with price rising and open positions shrinking, the follow-through going forward deserves a question mark—whether it continues after the covering is completed, or whether it runs up and takes profit locally, the market will decide for itself.
Over a 15-minute period, it’s up 1.14%, but what’s truly worth paying attention to is the structure behind it—price is moving up while OI is shrinking, which feels closer to a short covering than momentum driven by new long positions. After breaking above the upper bound of the range formed by nearly 20 consecutive 5-minute K-lines, active turnover is up 20.6%, with a buy/sell ratio of 1.52—sell pressure does seem to be easing.
In terms of nominal changes across the whole pool, it ranks at #32, and the depth has been confirmed as well; it’s not a fake breakout created by a single needle piercing through. However, with price rising and open positions shrinking, the follow-through going forward deserves a question mark—whether it continues after the covering is completed, or whether it runs up and takes profit locally, the market will decide for itself.