$REZ This dip isn’t that deep, but the structure is pretty honest.
On the 15m chart: price -1.48%, volume 1.6x; the aggressive buy/sell ratio dropped to 0.59, and aggressive trades are down -25.6%. The drawdown is mild, but the sellers are clearly stepping in on the aggressive side.
The key is OI: 15m -1.86%, 1h -1.32%. On both ends (nominally), it’s contracting, and it’s been sustained across several consecutive periods. Price falling while OI also drops is the classic multi-head deleveraging pattern—not new shorts entering to press, but old longs pulling back, stopping out, and getting liquidated. The abnormal percentile is 87.5%, and in the whole pool it’s #16, indicating this isn’t just one unit wobbling.
Over 24h, trading value is still 74M, so liquidity isn’t bad. But at this position, when longs contract like this, there’s often more follow-through. I won’t take a trade—I'll wait for OI to stabilize before reassessing.
On the 15m chart: price -1.48%, volume 1.6x; the aggressive buy/sell ratio dropped to 0.59, and aggressive trades are down -25.6%. The drawdown is mild, but the sellers are clearly stepping in on the aggressive side.
The key is OI: 15m -1.86%, 1h -1.32%. On both ends (nominally), it’s contracting, and it’s been sustained across several consecutive periods. Price falling while OI also drops is the classic multi-head deleveraging pattern—not new shorts entering to press, but old longs pulling back, stopping out, and getting liquidated. The abnormal percentile is 87.5%, and in the whole pool it’s #16, indicating this isn’t just one unit wobbling.
Over 24h, trading value is still 74M, so liquidity isn’t bad. But at this position, when longs contract like this, there’s often more follow-through. I won’t take a trade—I'll wait for OI to stabilize before reassessing.