$POWER This 15m move went straight in for -10.5%—volume spiked to 4.92x, volatility Z 4.38. It’s clearly not a normal rotation of hands; it looks like someone got carried out.
What’s interesting is the OI: the 15m contract is -1.56% (-281K), while the 1h is +2.54% (+166K). Short-term deleveraging while the longer-term is still adding positions. Combined with active trading being -15.1% and the buy/sell ratio at 0.74, the picture looks more like long-side stop-losses/passive liquidations while someone is picking up on the other side.
Price has already broken below the lower bound of the recent 20-ish 5m range. The closing price punched through directly—not a mere wick/false move. In this kind of structure, I’m not too keen on guessing the bottom. The deleveraging process often doesn’t end with a single K, especially when the 24h trading value is still 76M—liquidity is there, and the knife moves fast.
Let the OI stabilize and wait for the active buy side to return. Chasing longs right now is just poking a blind box.
What’s interesting is the OI: the 15m contract is -1.56% (-281K), while the 1h is +2.54% (+166K). Short-term deleveraging while the longer-term is still adding positions. Combined with active trading being -15.1% and the buy/sell ratio at 0.74, the picture looks more like long-side stop-losses/passive liquidations while someone is picking up on the other side.
Price has already broken below the lower bound of the recent 20-ish 5m range. The closing price punched through directly—not a mere wick/false move. In this kind of structure, I’m not too keen on guessing the bottom. The deleveraging process often doesn’t end with a single K, especially when the 24h trading value is still 76M—liquidity is there, and the knife moves fast.
Let the OI stabilize and wait for the active buy side to return. Chasing longs right now is just poking a blind box.
