DASH is currently around 42u. It spiked up to 47.6, pulled back to 38.7, and then bounced back again—this move washed out the trend without breaking it.
First, about funds: in the past three hours, spot net inflow is positive for 12 straight candles—all red. The large order accumulation is also net buying. In the last 15 minutes, big players did release a bit of inventory, but the mid-sized side fully took it in—this looks more like rotation/turnover, not withdrawal.
As for futures, that’s even more important: open interest rose by nearly 40% for the day, and price/volume hit the strong bullish quadrant. Yet the funding rate is only 0.01%. Leverage hasn’t heated up, which suggests this leg of the longs hasn’t gone into a frenzy and the main players can hold their ground.
However, I won’t say to chase here casually. RSI is at 75 (overbought), price is riding along the upper Bollinger band, and that 47.6 candle with the long upper wick is still capping it. Also, big long positions have been reducing over the past few hours, and the financing long/short ratio is extremely crowded.
So my bias is long, but the tactic is to wait for a pullback. If you can catch it near the double moving averages around 40 and hold, then go long again; if it can’t hold, wait for the next wave—don’t buy at the top of the mountain.
One last reminder: longs are currently a bit crowded. If the inflows stop, a pullback will arrive faster than usual—don’t max out your position size.
#dash $DASH
First, about funds: in the past three hours, spot net inflow is positive for 12 straight candles—all red. The large order accumulation is also net buying. In the last 15 minutes, big players did release a bit of inventory, but the mid-sized side fully took it in—this looks more like rotation/turnover, not withdrawal.
As for futures, that’s even more important: open interest rose by nearly 40% for the day, and price/volume hit the strong bullish quadrant. Yet the funding rate is only 0.01%. Leverage hasn’t heated up, which suggests this leg of the longs hasn’t gone into a frenzy and the main players can hold their ground.
However, I won’t say to chase here casually. RSI is at 75 (overbought), price is riding along the upper Bollinger band, and that 47.6 candle with the long upper wick is still capping it. Also, big long positions have been reducing over the past few hours, and the financing long/short ratio is extremely crowded.
So my bias is long, but the tactic is to wait for a pullback. If you can catch it near the double moving averages around 40 and hold, then go long again; if it can’t hold, wait for the next wave—don’t buy at the top of the mountain.
One last reminder: longs are currently a bit crowded. If the inflows stop, a pullback will arrive faster than usual—don’t max out your position size.
#dash $DASH