Looking only at price can make you miss a lot of information. $WAL 1-hour open interest is up 7.21%, while price is up 6.89%. Put them together:
Open interest rises and price rises: new longs are entering.
If open interest keeps increasing, watch to see whether the funding rate is rising in step. Which side are you on—long or short?
#WAL
Open interest rises and price rises: new longs are entering.
If open interest keeps increasing, watch to see whether the funding rate is rising in step. Which side are you on—long or short?
#WAL