$AR This move is pretty interesting. The price is down 1.49%, which isn’t too harsh, but the OI shrank by 1.33% in an hour. The 15m chart is also trending down—clearly longs are deleveraging, not shorts initiating fresh positions to slam it.
Active trade volume is -35.8% worse, the buy-sell ratio is 0.47, and the close also breaks below the lower edge of the recent 20 five-minute ranges. A few signals stacked together like that is exactly the kind of trend where “nobody’s stepping in, and stop-loss orders push the price lower on their own.”
Funding rates are still in the higher range recently, and the OI is at an abnormal percentile of 93.8%, ranking #10 across the whole pool. If positions were crowded up front, then the unwind is going to be just as fast.
Don’t rush to pick the bottom—first watch when this deleveraging wave stops. During the position-shrinking phase, any rebound is also likely to be fake.
Active trade volume is -35.8% worse, the buy-sell ratio is 0.47, and the close also breaks below the lower edge of the recent 20 five-minute ranges. A few signals stacked together like that is exactly the kind of trend where “nobody’s stepping in, and stop-loss orders push the price lower on their own.”
Funding rates are still in the higher range recently, and the OI is at an abnormal percentile of 93.8%, ranking #10 across the whole pool. If positions were crowded up front, then the unwind is going to be just as fast.
Don’t rush to pick the bottom—first watch when this deleveraging wave stops. During the position-shrinking phase, any rebound is also likely to be fake.