$BCH This 15m surge then a sharp sell-off is a bit brutal—volume immediately jumped to 11.54x, buy/sell ratio at 0.47, and aggressive trades were down -35.7%. It’s all the vibe of smashing things to the ground.
But if you look closely at OI: 15m -1.09%, 1h -0.89%. The nominal change has been shrinking across several consecutive periods. Price falling while OI drops clearly isn’t fresh shorting; it looks more like longs de-leveraging, stop-losses getting swept, or positions being reduced.
The abnormal percentile hit 100%, ranking #2 in the whole pool, continuing across multiple periods. Depth also confirms it: the close broke below the lower edge of the recent 5m range for about 20 bars, with volume higher than normal. In the short term, it’s definitely weak—but the driver is de-leveraging rather than incremental short pressure. Wait for leverage to get fully cleared, then see whether there are any signs of stabilization.
But if you look closely at OI: 15m -1.09%, 1h -0.89%. The nominal change has been shrinking across several consecutive periods. Price falling while OI drops clearly isn’t fresh shorting; it looks more like longs de-leveraging, stop-losses getting swept, or positions being reduced.
The abnormal percentile hit 100%, ranking #2 in the whole pool, continuing across multiple periods. Depth also confirms it: the close broke below the lower edge of the recent 5m range for about 20 bars, with volume higher than normal. In the short term, it’s definitely weak—but the driver is de-leveraging rather than incremental short pressure. Wait for leverage to get fully cleared, then see whether there are any signs of stabilization.
