$ZAMA This 15m has some interesting points.
The price moves up, and the OI follows—within one hour, the futures contract open positions increased by 0.29%. Coupled with aggressive buying/selling by 1.74 and aggressive execution difference of 27%, it’s clearly being pushed by newly added leveraged long positions, not some kind of fake rally from short covering. At the close, it also stepped on the upper edge of the most recent 20+ 5m bars; volume was 1.68x, Z value 2.05, and the depth is confirmed.
But at this location, I’ll watch it a bit more: the funding rate is already in the recent high percentile range, so the cost-effectiveness of chasing longs isn’t great. Either wait for a pullback that doesn’t break, then go in; or go in with a light position for a bit—don’t let emotions take over.
#ZAMA
The price moves up, and the OI follows—within one hour, the futures contract open positions increased by 0.29%. Coupled with aggressive buying/selling by 1.74 and aggressive execution difference of 27%, it’s clearly being pushed by newly added leveraged long positions, not some kind of fake rally from short covering. At the close, it also stepped on the upper edge of the most recent 20+ 5m bars; volume was 1.68x, Z value 2.05, and the depth is confirmed.
But at this location, I’ll watch it a bit more: the funding rate is already in the recent high percentile range, so the cost-effectiveness of chasing longs isn’t great. Either wait for a pullback that doesn’t break, then go in; or go in with a light position for a bit—don’t let emotions take over.
#ZAMA