$WDC price rose nearly 7% over the past 24 hours; the funding rate is 0.00013%. A positive funding rate means longs are continuously paying shorts.
This is a typical chase-the-price sentiment. The price rally combined with a positive funding rate suggests that long positions are building up at an average cost; if there isn’t fresh capital to take over the buying momentum, it’s easy to trigger profit-taking.
Current open interest is 15,535.22 contracts. I’ll try going long with a small position around 470; if the funding rate turns negative or open interest drops sharply, I’ll exit.
Trading tag: #TradFi #链上美股 #WDC
Where do you think this analysis is most likely to be wrong?
This is a typical chase-the-price sentiment. The price rally combined with a positive funding rate suggests that long positions are building up at an average cost; if there isn’t fresh capital to take over the buying momentum, it’s easy to trigger profit-taking.
Current open interest is 15,535.22 contracts. I’ll try going long with a small position around 470; if the funding rate turns negative or open interest drops sharply, I’ll exit.
Trading tag: #TradFi #链上美股 #WDC
Where do you think this analysis is most likely to be wrong?