ONG's contract positions stack up 27% in a day—system goes straight to a bull_strong signal. But on the spot side, at the same time it's bleeding money: net outflows of 53.9 million in 3 hours. There haven't been a single positive candle for 12 straight bars. OI is calling for longs, but the money is running out—once you lift this lid, all the flaws are exposed.
With 8 readings at the fee all negative, averaging -0.09%, the OI that piled up isn't new long positions—it's shorts adding at low levels. Price jumped from 0.085 to 0.10, and just recovered 18%. In the last fifteen minutes, the dual moving averages are pinned down hard at 0.10; the 4-hour chart is still DOWN. The bounce can't even produce a decent breakout.
Those small buy orders in the tens of thousands on the 15-minute chart can't absorb the tens-of-millions sell-off order flow. The direction is nailed into the bars: short ONG.
There’s only one reversal condition—spot net inflow turns positive and it stands above 0.104 on increased volume. If that happens, I'll close this short immediately and admit I'm wrong.
#ong $ONG
With 8 readings at the fee all negative, averaging -0.09%, the OI that piled up isn't new long positions—it's shorts adding at low levels. Price jumped from 0.085 to 0.10, and just recovered 18%. In the last fifteen minutes, the dual moving averages are pinned down hard at 0.10; the 4-hour chart is still DOWN. The bounce can't even produce a decent breakout.
Those small buy orders in the tens of thousands on the 15-minute chart can't absorb the tens-of-millions sell-off order flow. The direction is nailed into the bars: short ONG.
There’s only one reversal condition—spot net inflow turns positive and it stands above 0.104 on increased volume. If that happens, I'll close this short immediately and admit I'm wrong.
#ong $ONG
