$ONG This 15-minute K-line has once again helped the bulls sweep another batch of stop-loss orders.
A drop of 1.9% isn’t extreme, but combined with the contract notional de-leveraging of -427K USDT and the abnormal OI severity at the 95th percentile, this move looks more like a needle that pierced through a dense long order zone. The OI on the 1-hour timeframe is flat, indicating that funds haven’t left—only leverage is rotating.
The key data is here: passive vs. aggressive trade spread of -16.3%, and buy/sell ratio of 0.72. This suggests the decline was driven by aggressive sell pressure, not by passive absorption. For short-term bottom confirmation, you need to see the buy-side initiative return.
In the past 24 hours, there’s still $120 million in trading volume. The market isn’t dead—it's just using time to digest the panic left by that needle. Don’t rush in yet; wait until the aggressive buy/sell ratio climbs back above 1, then reassess.
A drop of 1.9% isn’t extreme, but combined with the contract notional de-leveraging of -427K USDT and the abnormal OI severity at the 95th percentile, this move looks more like a needle that pierced through a dense long order zone. The OI on the 1-hour timeframe is flat, indicating that funds haven’t left—only leverage is rotating.
The key data is here: passive vs. aggressive trade spread of -16.3%, and buy/sell ratio of 0.72. This suggests the decline was driven by aggressive sell pressure, not by passive absorption. For short-term bottom confirmation, you need to see the buy-side initiative return.
In the past 24 hours, there’s still $120 million in trading volume. The market isn’t dead—it's just using time to digest the panic left by that needle. Don’t rush in yet; wait until the aggressive buy/sell ratio climbs back above 1, then reassess.
