$BULLA 24h fell 11.15%. Even though the buy/sell ratio is only 0.719, in the last 15 minutes it’s 0.705—the sell orders are eating down one level after another, and the liquidity being taken is getting thinner and thinner!
In one hour it slid from 0.08978 to 0.08749, with the position value shrinking to 9.1126 million, while the trading value is only 0.55x the 24h hourly average. Funding rate is +0.0267%—the longs are still paying. With de-risking and shrinking volume while being sold down, the read is: old longs are leaving, and no new shorts are being picked up.
Invalidation condition: If it rebounds back to 0.08978 and the position value increases, this weak-read thesis is invalid; only if it breaks below 0.08707 can it be said to continue weakening.
#BULLA
In one hour it slid from 0.08978 to 0.08749, with the position value shrinking to 9.1126 million, while the trading value is only 0.55x the 24h hourly average. Funding rate is +0.0267%—the longs are still paying. With de-risking and shrinking volume while being sold down, the read is: old longs are leaving, and no new shorts are being picked up.
Invalidation condition: If it rebounds back to 0.08978 and the position value increases, this weak-read thesis is invalid; only if it breaks below 0.08707 can it be said to continue weakening.
#BULLA
