TIA is up more than 20%, but more and more traders are piling in to short it. Since last night, it’s surged from 0.48 to 0.633, leaving behind the 0.53 area it failed to break through on both 9/23 and 10/9, and reaching its highest level since last December. Open interest is up nearly 30%, while the long/short account ratio has fallen from 1.4 to below 1, and the funding rate is still flat. I’m not chasing it—I’ll wait for a pullback to 0.555–0.575 to enter, with a stop at 0.524. First target is 0.66, then 0.70. If a 4H candle closes back below 0.53, I’m wrong.

Personal opinion only, not investment advice.

$TIA