The most valuable use of OI is not to predict whether prices will rise or fall, but to help determine whether a price move is accompanied by new contracts entering the market.
So the key things to watch right now are:
* Break above 2525 + rising OI + higher volume: Further confirmation of the uptrend.
* Break below 2490 + rising OI + stronger aggressive selling: A higher likelihood of the downtrend continuing.
* Trading between 2490 and 2525 + continued decline in OI: Keep waiting; there’s no need to rush into a trade.
$ETH
So the key things to watch right now are:
* Break above 2525 + rising OI + higher volume: Further confirmation of the uptrend.
* Break below 2490 + rising OI + stronger aggressive selling: A higher likelihood of the downtrend continuing.
* Trading between 2490 and 2525 + continued decline in OI: Keep waiting; there’s no need to rush into a trade.
$ETH