$RSR This move has me totally baffled. It went from 0.0016 to 0.0026 in a day, up more than 40%. The news about a KRW trading pair on Upbit came out and it took off.
I'm bearish. Don't rush to bash me—look at a few numbers first: the current price of 0.0023 has already fallen back below the MA7 at 0.0024. The MA25 is at 0.0020, and the structure has weakened after the spike. Open interest is only 14 million, and another 0.8% flowed out over the past hour. The top trader long/short ratio is 0.99—no one's really taking a side. Most importantly, the funding rate is ridiculously negative: shorts are paying longs. An extremely negative funding rate like this could mean one last bout of madness before a short squeeze—or a dump after the pump.
If it were me, I'd open a small short around 0.0025, set a stop-loss above 0.0028, and initially target around 0.0020. If that breaks, I'd look to 0.0017. The risk-reward looks decent; the main risk is that there could be another sentiment-driven move around Upbit's official launch.
Good thing I haven't gone to sleep—I'm keeping an eye on this chart. Position size matters more than entry price, so think first about how much you can handle.
I'm bearish. Don't rush to bash me—look at a few numbers first: the current price of 0.0023 has already fallen back below the MA7 at 0.0024. The MA25 is at 0.0020, and the structure has weakened after the spike. Open interest is only 14 million, and another 0.8% flowed out over the past hour. The top trader long/short ratio is 0.99—no one's really taking a side. Most importantly, the funding rate is ridiculously negative: shorts are paying longs. An extremely negative funding rate like this could mean one last bout of madness before a short squeeze—or a dump after the pump.
If it were me, I'd open a small short around 0.0025, set a stop-loss above 0.0028, and initially target around 0.0020. If that breaks, I'd look to 0.0017. The risk-reward looks decent; the main risk is that there could be another sentiment-driven move around Upbit's official launch.
Good thing I haven't gone to sleep—I'm keeping an eye on this chart. Position size matters more than entry price, so think first about how much you can handle.