$W That’s one nasty wick—down 4 points in 15 minutes, with volume hitting 3.65x normal and a volatility Z-score of 3.81. This clearly isn’t just small-time retail trading. I just checked the positions: price is falling while OI is rising. 1h contracts are up 0.37%, but notional has shrunk by 652K. It’s got a strong short-entry feel, and the active buy/sell ratio is 0.68, so selling pressure is clearly in control.
It just broke below the lower bound of the 20-candle 5m range, while the funding rate is still in a recent high percentile. This setup could mean shorts keep pressing, or that liquidity has been swept and a bounce is next. 24h trading volume is 377M, and the pool’s notional change ranks #19—there’s some decent volume here.
Personally, I’m not keen to chase shorts at this level. First, I want to see whether this 15m candle can close back above the range low. If it can’t hold, there could be more downside to grind through.
It just broke below the lower bound of the 20-candle 5m range, while the funding rate is still in a recent high percentile. This setup could mean shorts keep pressing, or that liquidity has been swept and a bounce is next. 24h trading volume is 377M, and the pool’s notional change ranks #19—there’s some decent volume here.
Personally, I’m not keen to chase shorts at this level. First, I want to see whether this 15m candle can close back above the range low. If it can’t hold, there could be more downside to grind through.