$BR This move is kind of interesting.
In 15m, it’s up +3.17% directly. Volume reached 2.07x, with aggressive buy/sell ratio at 1.34. It also closed by breaking above the upper band of the last ~20 consecutive 5m bars. On the surface it looks like a strong breakout, but OI is falling—15m -0.14%, 1h -0.38%.
Price is up, positions are down—this is a typical short-covering move, not a fresh wave of longs being pushed in.
In the whole pool, it’s ranked #29 for abnormality, with a nominal change of #8. Momentum really has picked up. But the rise driven by short covering—its sustainability is worth questioning. Before chasing, think it through: are you taking over from the short-covering wave, or are you waiting to be the one who picks up after the covering is done?
With 339M in 24h volume, this pool—$BR —isn’t shallow. If it really runs, it can go for a while too. But with the breakout not supported by OI, I usually only trade it short-term.
In 15m, it’s up +3.17% directly. Volume reached 2.07x, with aggressive buy/sell ratio at 1.34. It also closed by breaking above the upper band of the last ~20 consecutive 5m bars. On the surface it looks like a strong breakout, but OI is falling—15m -0.14%, 1h -0.38%.
Price is up, positions are down—this is a typical short-covering move, not a fresh wave of longs being pushed in.
In the whole pool, it’s ranked #29 for abnormality, with a nominal change of #8. Momentum really has picked up. But the rise driven by short covering—its sustainability is worth questioning. Before chasing, think it through: are you taking over from the short-covering wave, or are you waiting to be the one who picks up after the covering is done?
With 339M in 24h volume, this pool—$BR —isn’t shallow. If it really runs, it can go for a while too. But with the breakout not supported by OI, I usually only trade it short-term.