Funding rate “lying flat” at +0.0050%—this kind of “zero-cost leverage” is actually what makes people the most uneasy.
The shorts aren’t holding it back; the funding rate is the evidence. The long side, using the volume from a $58 million turnover, pushed the price from 0.2053 up to 0.2496. But the high at 0.2504 is only 3 cents away from the current price—upside sell pressure is almost being sold right at your hairline.
Hold the stop-loss at 0.2250. If it breaks, this whole push is basically over. First watch whether 0.2580 can rise on volume and hold steady. If it holds, then you can try for 0.2750. If it can’t make an impulse and falls back below 0.2380, the longs’ rhythm is cut off.
On the day the pattern completes, watch the volume before the market opens. Today’s upswing was built with money. If the next candle’s volume drops to under 30 million, don’t take the trade.
#MET
The shorts aren’t holding it back; the funding rate is the evidence. The long side, using the volume from a $58 million turnover, pushed the price from 0.2053 up to 0.2496. But the high at 0.2504 is only 3 cents away from the current price—upside sell pressure is almost being sold right at your hairline.
Hold the stop-loss at 0.2250. If it breaks, this whole push is basically over. First watch whether 0.2580 can rise on volume and hold steady. If it holds, then you can try for 0.2750. If it can’t make an impulse and falls back below 0.2380, the longs’ rhythm is cut off.
On the day the pattern completes, watch the volume before the market opens. Today’s upswing was built with money. If the next candle’s volume drops to under 30 million, don’t take the trade.
#MET