VELVET This move is a bit interesting: over the past 24 hours, it’s up 13.88%. It looks quite strong, but right now the momentum feels a little out of breath.
The price has directly broken through the lower Bollinger Band, and %B is at -0.20. In plain terms, it’s trading right along the bottom edge of the band. All three Bollinger lines are also pressing downward together, and the overall structure is weak. A single 15-minute bearish candle dragged it down 2.71%, with volume rising to 1.1 times the recent average—so there is at least some activity.
The funding rate is still positive at +0.0050%, and long positions’ average cost is relatively high. Open interest hasn’t shrunk; instead, it’s up 13.2%, meaning contract capital is still flowing in rather than pulling out. The long/short ratio is 0.93—short-side account holders are slightly ahead, and the number of accounts on both sides is very tight.
In one sentence: Yes, it’s gone up, but now it’s grinding right against the lower band; the short-term trend is turning downward, and capital is still in the market—however, longs’ costs are a bit high.
For reference only and does not constitute investment advice.
#VELVET #点金Midas
The price has directly broken through the lower Bollinger Band, and %B is at -0.20. In plain terms, it’s trading right along the bottom edge of the band. All three Bollinger lines are also pressing downward together, and the overall structure is weak. A single 15-minute bearish candle dragged it down 2.71%, with volume rising to 1.1 times the recent average—so there is at least some activity.
The funding rate is still positive at +0.0050%, and long positions’ average cost is relatively high. Open interest hasn’t shrunk; instead, it’s up 13.2%, meaning contract capital is still flowing in rather than pulling out. The long/short ratio is 0.93—short-side account holders are slightly ahead, and the number of accounts on both sides is very tight.
In one sentence: Yes, it’s gone up, but now it’s grinding right against the lower band; the short-term trend is turning downward, and capital is still in the market—however, longs’ costs are a bit high.
For reference only and does not constitute investment advice.
#VELVET #点金Midas