$STRK This move is looking pretty interesting.
It gained 3 points in 15m on 1.5x volume, and the key thing is that it broke above the highs of nearly 20 previous 5m candles. But after checking OI, I noticed that while the price was rising, open interest in perpetuals was actually falling: -0.66% over 15m and -1.53% over 1h.
Put simply, this structure suggests shorts are closing out, not new longs entering. The share of aggressive buying is 1.37, and the notional change ranks 24th across the whole pool, but the OI anomaly percentile is only 61.5%—hardly an extreme signal.
A price pushed up by short covering isn’t something to chase unless real buying comes in after the covering is done. I’m watching this level for now and waiting for confirmation.
It gained 3 points in 15m on 1.5x volume, and the key thing is that it broke above the highs of nearly 20 previous 5m candles. But after checking OI, I noticed that while the price was rising, open interest in perpetuals was actually falling: -0.66% over 15m and -1.53% over 1h.
Put simply, this structure suggests shorts are closing out, not new longs entering. The share of aggressive buying is 1.37, and the notional change ranks 24th across the whole pool, but the OI anomaly percentile is only 61.5%—hardly an extreme signal.
A price pushed up by short covering isn’t something to chase unless real buying comes in after the covering is done. I’m watching this level for now and waiting for confirmation.