Futures order book—first look at the structure, then talk direction

For the futures order book, I only look at crowding, not group messages.

Positions first look at crowding, then at price.

BTC nominal holdings: 7.98 billion USD, 24h -0.02%
Overall long/short ratio: 1.31
BTC 84,120 (+0.41%), ETH 2,692 (+0.24%).

Funding fee: -0.0010%, close to zero. Long/short ratio: 1.31. Leverage hasn’t picked a side. If it hasn’t picked a side, don’t use high leverage to choose for it.

Key levels: Above 84,793; Below 82,606. Don’t let either side exceed 2x of account equity. Set the stop loss outside the structure—don’t place it at an “integer” psychological price.

One forward-looking contract point: If the 1h candle can’t close above 84,337, cancel all breakout orders.

Data: Binance spot 24h / Binance USD-m / Yahoo daily (5-day up/down). Missing numbers aren’t filled in.
meme—when it hasn’t outperformed BTC, do you still hold it?

#合约 # position management

Data card (same round as the main text; what’s missing is the dash):
BTC 84,120 +0.41% Binance spot 24h
ETH 2,692 +0.24% ETH/BTC 0.032
S&P 7,743 +1.21% Yahoo 5-day
NASDAQ 27,069 +2.06% Yahoo 5-day
US dollar 101 +0.60% DXY 5-day
VIX 14.87 +0.00% Yahoo
Funding fee -0.0010% Open interest 7.98B (24h -0.02) Long/short 1.3079 Binance USD-m

Personal view; the numbers are from the sources mentioned in the main text. Not an order instruction.