$PENDLE This move has some substance.
On the 15m timeframe, it directly surged 2.78%, with volume hitting 4.75 times the normal level. Volatility (Z) reached 5.26, and the close even held above the upper band of nearly 20 consecutive 5m candles. This isn’t a fakeout where it spikes up and then immediately retracts—it’s being pushed upward along with volume.
More importantly, it’s the OI. The 15m contract is up +1.19%, notional 1.15M U, and its percentile is abnormal at 100%, ranking #1 across the whole pool. On the 1h side it’s also continuing at a small pace. Price rising + OI rising in sync means this structure is fresh leveraged longs coming in—not some kind of upward move forced out by short covering.
Active trading imbalance is up 33.6%, buy/sell ratio is 2.01, and the funding rate has also touched a high percentile recently. The long side sentiment is already very full.
For something like an abnormal reading across the entire pool of #1 + that continues across multiple consecutive periods, it’s either a launch or a trap being set for those chasing the price. My inclination is to first see whether it can hold the upper edge of this range—if it holds, then we talk about continuation. If you’re rushing to board, think about what that 100% percentile really implies.
On the 15m timeframe, it directly surged 2.78%, with volume hitting 4.75 times the normal level. Volatility (Z) reached 5.26, and the close even held above the upper band of nearly 20 consecutive 5m candles. This isn’t a fakeout where it spikes up and then immediately retracts—it’s being pushed upward along with volume.
More importantly, it’s the OI. The 15m contract is up +1.19%, notional 1.15M U, and its percentile is abnormal at 100%, ranking #1 across the whole pool. On the 1h side it’s also continuing at a small pace. Price rising + OI rising in sync means this structure is fresh leveraged longs coming in—not some kind of upward move forced out by short covering.
Active trading imbalance is up 33.6%, buy/sell ratio is 2.01, and the funding rate has also touched a high percentile recently. The long side sentiment is already very full.
For something like an abnormal reading across the entire pool of #1 + that continues across multiple consecutive periods, it’s either a launch or a trap being set for those chasing the price. My inclination is to first see whether it can hold the upper edge of this range—if it holds, then we talk about continuation. If you’re rushing to board, think about what that 100% percentile really implies.