$WUSDT The two positions left in the previous post have now both been tested in this round: the upper edge at 0.01987 was touched at 0.02018 but failed to hold; the lower edge at 0.01908 was broken, and the low at 0.01819 is the one set in the past hour. In just this hour alone, it moved -5.28%; current price: 0.01848 USDT.
On the 24-hour tape, this round is down -30.2%, which is less severe than at the time of the previous post; however, that is due to the rolling 24-hour window, not a price rebound. In fact, the price has stepped down another level. What has really stayed unchanged is the cost side: the funding rate is -0.045%, about the same as the previous round, still hugging the zero line. After moving up and then breaking down again, the reading has not shown a clear bias to either side.
Going forward, two points will confirm the setup: if price climbs back above the 4-hour high at 0.02018 and holds, then the current decline can be said to have been stopped for now; if it closes below the 4-hour low at 0.01819, the downtrend will open another leg lower. The next funding rate settlement is at 00:00 Taipei time: if the reading is still near the zero line, the cost side remains neutral; if it moves away to either side, that means a new side has been chosen.
The opposite case is also worth keeping in mind: after a one-day drop of 30%, swings of this size are normal; after a breakdown, an equally fast rebound can appear at any time, and the direction has not truly been decided yet.
#MarketAnalysis
On the 24-hour tape, this round is down -30.2%, which is less severe than at the time of the previous post; however, that is due to the rolling 24-hour window, not a price rebound. In fact, the price has stepped down another level. What has really stayed unchanged is the cost side: the funding rate is -0.045%, about the same as the previous round, still hugging the zero line. After moving up and then breaking down again, the reading has not shown a clear bias to either side.
Going forward, two points will confirm the setup: if price climbs back above the 4-hour high at 0.02018 and holds, then the current decline can be said to have been stopped for now; if it closes below the 4-hour low at 0.01819, the downtrend will open another leg lower. The next funding rate settlement is at 00:00 Taipei time: if the reading is still near the zero line, the cost side remains neutral; if it moves away to either side, that means a new side has been chosen.
The opposite case is also worth keeping in mind: after a one-day drop of 30%, swings of this size are normal; after a breakdown, an equally fast rebound can appear at any time, and the direction has not truly been decided yet.
#MarketAnalysis