$F I just went through a few cycles of FUSDT and it feels like there’s no need to rush into deciding the long or short side. First, let’s see if it can hold up and stop falling.
Over the past year, this coin is still down nearly 80%. In the last 20 days, it rebounded from around 0.003 to 0.00559, but in the past two days it slipped back down from above 0.0045 to around 0.00367.
What’s more interesting is that over the last 48 hours the price dropped by about 16%, yet open interest increased by 22%. Positions are still being built up; things probably won’t be calm later, but right now it’s still unclear which side is adding.
For the short term, I’ll watch two levels:
Can 0.00356 hold?
Can it reclaim 0.00372?
If it holds above 0.00372, then I’ll look at 0.0043—0.0045. If it breaks below 0.00356, I won’t try to guess the bottom first.
Do you think this is just a shakeout, or that the high-position trades are starting to have problems?
#FUSDT
Over the past year, this coin is still down nearly 80%. In the last 20 days, it rebounded from around 0.003 to 0.00559, but in the past two days it slipped back down from above 0.0045 to around 0.00367.
What’s more interesting is that over the last 48 hours the price dropped by about 16%, yet open interest increased by 22%. Positions are still being built up; things probably won’t be calm later, but right now it’s still unclear which side is adding.
For the short term, I’ll watch two levels:
Can 0.00356 hold?
Can it reclaim 0.00372?
If it holds above 0.00372, then I’ll look at 0.0043—0.0045. If it breaks below 0.00356, I won’t try to guess the bottom first.
Do you think this is just a shakeout, or that the high-position trades are starting to have problems?
#FUSDT