$QNT 247 — from 70 up to 374 in 4 days. The short side is currently paying funding to keep the position.
The 4H chart is testing a fast moving average channel. The 1H has been range-bound at 241–261 since last night.
The peak on 27/9 was 374. The peak on 30/9 was lower at 328. Yesterday dropped 14%. Previous funding was −0.05%, and the next one is −0.11% every 8 hours. Open contracts fell from 58 to around 40 million USD over two days.
If shorts are overcrowded and funding is high, the rebound could be very sharp. But the peak is gradually getting lower.
Above: 261, then 300–306.
Below: 241. If 241 breaks, look to 195–205.
241 — is it the bottom of the corrective wave, or will shorts continue to win?
Personal observation, not investment advice. Risk is 1%, always have a stop point.
#QNT #Quant $QNT
The 4H chart is testing a fast moving average channel. The 1H has been range-bound at 241–261 since last night.
The peak on 27/9 was 374. The peak on 30/9 was lower at 328. Yesterday dropped 14%. Previous funding was −0.05%, and the next one is −0.11% every 8 hours. Open contracts fell from 58 to around 40 million USD over two days.
If shorts are overcrowded and funding is high, the rebound could be very sharp. But the peak is gradually getting lower.
Above: 261, then 300–306.
Below: 241. If 241 breaks, look to 195–205.
241 — is it the bottom of the corrective wave, or will shorts continue to win?
Personal observation, not investment advice. Risk is 1%, always have a stop point.
#QNT #Quant $QNT
