$INJ That move is a bit brutal.
In 15m, it dropped directly by 2.62%; volume expanded to 1.78x; the Z value reached 3.00; and the close fell below the lower edge of the past ~20 5m-range candles. The aggressive trade imbalance was -47.4%, and the buy/sell ratio was 0.36—sell orders were hitting it down hard, not the kind of low-volume, slow bearish drift.
But interestingly, the OI: 15m -0.51%, 1h -0.55%, with notional down by 1.19M and 897K respectively. Price fell while OI also fell—this doesn’t look like brand-new shorts entering; it looks more like longs deleveraging, stop-losses being swept, or positions being actively reduced.
The OI abnormal percentile is 97.8%, overall pool abnormal #3, and notional change #8. Price is also close to historical extreme ranges again.
With this kind of structure, I usually don’t rush to bottom-fish. The volume-price alignment is bearish and short-dominated, but the drop in OI suggests leverage is being flushed. Whether the next move is more killing or smashing out a “pit” depends on whether there’s someone to step in after this wave of stop-loss orders gets consumed. I’ll just keep watching.
In 15m, it dropped directly by 2.62%; volume expanded to 1.78x; the Z value reached 3.00; and the close fell below the lower edge of the past ~20 5m-range candles. The aggressive trade imbalance was -47.4%, and the buy/sell ratio was 0.36—sell orders were hitting it down hard, not the kind of low-volume, slow bearish drift.
But interestingly, the OI: 15m -0.51%, 1h -0.55%, with notional down by 1.19M and 897K respectively. Price fell while OI also fell—this doesn’t look like brand-new shorts entering; it looks more like longs deleveraging, stop-losses being swept, or positions being actively reduced.
The OI abnormal percentile is 97.8%, overall pool abnormal #3, and notional change #8. Price is also close to historical extreme ranges again.
With this kind of structure, I usually don’t rush to bottom-fish. The volume-price alignment is bearish and short-dominated, but the drop in OI suggests leverage is being flushed. Whether the next move is more killing or smashing out a “pit” depends on whether there’s someone to step in after this wave of stop-loss orders gets consumed. I’ll just keep watching.