$BILL This level has something going on.
Up 1.79% over 15m, volume has jumped to 2x, the active buy/sell ratio is 1.44, and OI is pushing higher at the same time—net increases on both the 1h and 15m charts. Price up, OI up: this isn’t short covering; new longs are entering.
The key is that the OI anomaly percentile has already hit 97.6%, ranking sixth across the entire pool, and it’s stayed elevated for several consecutive periods. 24h trading volume is only a little over 9M, so the pool isn’t very deep. With leverage piling in at these levels, volatility could spike at any moment.
We’re nearing historically extreme territory. The long-side structure looks pretty strong, but that also means any pullback could trigger a swift cascade. Anyone chasing should think carefully about position size.
Up 1.79% over 15m, volume has jumped to 2x, the active buy/sell ratio is 1.44, and OI is pushing higher at the same time—net increases on both the 1h and 15m charts. Price up, OI up: this isn’t short covering; new longs are entering.
The key is that the OI anomaly percentile has already hit 97.6%, ranking sixth across the entire pool, and it’s stayed elevated for several consecutive periods. 24h trading volume is only a little over 9M, so the pool isn’t very deep. With leverage piling in at these levels, volatility could spike at any moment.
We’re nearing historically extreme territory. The long-side structure looks pretty strong, but that also means any pullback could trigger a swift cascade. Anyone chasing should think carefully about position size.