$VELVET This one is kind of interesting.
On the 15m timeframe it jumped directly by 6.4%. The volume reached 5 times the average, the Z value is 5.36, and the closing price pushed through the upper edges of nearly 20 consecutive 5m intervals. The aggressive buy-side looks strong: the buy/sell ratio is 1.22, and the trade imbalance is +9.8%.
But what’s really worth watching is the OI: as price moves upward, the open interest actually drops—-0.45% on the 15m and -1.2% on the 1h—while the notional change is unusually far ahead, at the 99.8th percentile and the 2nd in the whole pool. This combination is very typical: it’s not really fresh long positions pushing; it looks more like short covering or position rebalancing lifting the price.
If shorts get squeezed a bit, we may be seeing the start of a new trend—though it’s still too early to draw conclusions now. In the last 24h, the traded value is only around the 11M level, not that heavy. Whether the breakout can hold depends on the follow-through and support from here.
Make a note for now—don’t rush to chase it as a breakout yet.
On the 15m timeframe it jumped directly by 6.4%. The volume reached 5 times the average, the Z value is 5.36, and the closing price pushed through the upper edges of nearly 20 consecutive 5m intervals. The aggressive buy-side looks strong: the buy/sell ratio is 1.22, and the trade imbalance is +9.8%.
But what’s really worth watching is the OI: as price moves upward, the open interest actually drops—-0.45% on the 15m and -1.2% on the 1h—while the notional change is unusually far ahead, at the 99.8th percentile and the 2nd in the whole pool. This combination is very typical: it’s not really fresh long positions pushing; it looks more like short covering or position rebalancing lifting the price.
If shorts get squeezed a bit, we may be seeing the start of a new trend—though it’s still too early to draw conclusions now. In the last 24h, the traded value is only around the 11M level, not that heavy. Whether the breakout can hold depends on the follow-through and support from here.
Make a note for now—don’t rush to chase it as a breakout yet.