$LYN This drop is a bit brutal—on the 15m chart it’s directly -5.78%. Volume surged to 8.48x, the Z value is 12.22, and the order-book aggressor trade gap is -29.2%. The buy-sell ratio is 0.55—clearly someone is dumping.
But interestingly, OI hasn’t risen. On the 15m it’s -1.55%, and on the 1h the nominal change is -563K. This looks more like longs deleveraging and getting liquidated/stop-losses getting triggered, rather than brand-new shorts entering.
The price has broken below the lower bound of the recent 20 consecutive 5m range intervals and is approaching a historical extreme zone.
With this kind of structure, I generally don’t rush to pick it up—wait for the volume to contract first, then reassess.
But interestingly, OI hasn’t risen. On the 15m it’s -1.55%, and on the 1h the nominal change is -563K. This looks more like longs deleveraging and getting liquidated/stop-losses getting triggered, rather than brand-new shorts entering.
The price has broken below the lower bound of the recent 20 consecutive 5m range intervals and is approaching a historical extreme zone.
With this kind of structure, I generally don’t rush to pick it up—wait for the volume to contract first, then reassess.