$JUP The market action looks a bit off.
On the 15m chart, price is moving down and volume has risen to 2.18 times normal. The taker flow imbalance is -41%, and the buy/sell ratio is down to just 0.42—selling pressure is clearly dominant.
But here's the interesting part: OI is falling, not rising. 15m futures OI is down 0.19%, and 1h OI is down 0.34%. Notional change is also a net outflow. This doesn't look like new shorts entering; it looks more like longs are exiting, either through stop-losses or by actively reducing their positions.
Price has just broken below the lows of the last 20 5m candles, and both order book depth and volume look fairly solid. The anomaly percentile across the entire pool is 89.3%, ranking #12, while notional change ranks #20—this isn't just minor noise.
With this kind of setup, I'm not keen to catch a falling knife. If the price is really going to keep falling, OI should follow suit. If this is just deleveraging, we could see a rebound once this wave is over. I'll wait and see.
On the 15m chart, price is moving down and volume has risen to 2.18 times normal. The taker flow imbalance is -41%, and the buy/sell ratio is down to just 0.42—selling pressure is clearly dominant.
But here's the interesting part: OI is falling, not rising. 15m futures OI is down 0.19%, and 1h OI is down 0.34%. Notional change is also a net outflow. This doesn't look like new shorts entering; it looks more like longs are exiting, either through stop-losses or by actively reducing their positions.
Price has just broken below the lows of the last 20 5m candles, and both order book depth and volume look fairly solid. The anomaly percentile across the entire pool is 89.3%, ranking #12, while notional change ranks #20—this isn't just minor noise.
With this kind of setup, I'm not keen to catch a falling knife. If the price is really going to keep falling, OI should follow suit. If this is just deleveraging, we could see a rebound once this wave is over. I'll wait and see.