Looking at $STRK 's chart at 2 a.m.—this move is getting me a little too hyped.
It’s up 55% in a day, jumping straight from 0.069 to 0.12, with a trading volume of 1.18 billion U. You wouldn’t even dream of seeing that kind of volume on a normal day. But over the past six hours, it’s given back five percentage points. Five of the last six candles were green, yet the current price has slipped below the MA7 at 0.11, while the MA25 is still holding at 0.0947. Basically, after the sharp run-up, it’s catching its breath above the moving averages—not collapsing, just shaking out weak hands.
Open interest is 50 million U, up another 2.2% in the past hour. The long/short account ratio among large traders is 0.69—there are clearly more short accounts. That’s interesting: with the price surging this hard, big traders are leaning bearish. Either they’re hedging, or some people think this rally came out of nowhere.
My take: I’m leaning bullish here. If it pulls back near 0.10 and holds, I’d expect it to keep heading toward 0.12. If it breaks 0.0947, I’ll admit I’m wrong and get out. The levels are clear. The funding rate is only 0.0012%, so there’s no sign of overheating—the leverage hasn’t piled up to dangerous levels yet.
I haven’t found any clear news; this is purely driven by money flows. The biggest danger in this kind of market is scaring yourself out of a position.
Just wondering if the person pumping this thing might be using their own alt account to flip long.
It’s up 55% in a day, jumping straight from 0.069 to 0.12, with a trading volume of 1.18 billion U. You wouldn’t even dream of seeing that kind of volume on a normal day. But over the past six hours, it’s given back five percentage points. Five of the last six candles were green, yet the current price has slipped below the MA7 at 0.11, while the MA25 is still holding at 0.0947. Basically, after the sharp run-up, it’s catching its breath above the moving averages—not collapsing, just shaking out weak hands.
Open interest is 50 million U, up another 2.2% in the past hour. The long/short account ratio among large traders is 0.69—there are clearly more short accounts. That’s interesting: with the price surging this hard, big traders are leaning bearish. Either they’re hedging, or some people think this rally came out of nowhere.
My take: I’m leaning bullish here. If it pulls back near 0.10 and holds, I’d expect it to keep heading toward 0.12. If it breaks 0.0947, I’ll admit I’m wrong and get out. The levels are clear. The funding rate is only 0.0012%, so there’s no sign of overheating—the leverage hasn’t piled up to dangerous levels yet.
I haven’t found any clear news; this is purely driven by money flows. The biggest danger in this kind of market is scaring yourself out of a position.
Just wondering if the person pumping this thing might be using their own alt account to flip long.