$WLD now looks like a market where it’s all too easy to jump to conclusions.
The pullback from ~$0.62 to ~$0.583 coincided with OI around $663M, while ~1.16M $WLD moved from Binance and OKX to Bithumb. Interesting, but I wouldn’t call it a sell signal: a transfer to an exchange doesn’t necessarily mean selling pressure.
I’m watching $0.570 and $0.5884. Below support means weakness; a move back above it opens the way to $0.60–0.62 again.
The pullback from ~$0.62 to ~$0.583 coincided with OI around $663M, while ~1.16M $WLD moved from Binance and OKX to Bithumb. Interesting, but I wouldn’t call it a sell signal: a transfer to an exchange doesn’t necessarily mean selling pressure.
I’m watching $0.570 and $0.5884. Below support means weakness; a move back above it opens the way to $0.60–0.62 again.