Structurally, $BTW ’s open interest and price have diverged (open interest down, price up): 24-hour open interest -16.04%, price +20.3%, current price 2.3994.
Watch for two things next:
First, whether open interest starts rising again—which could indicate new long positions entering. Second, whether the price loses momentum. If open interest keeps falling while the price stalls, it often means short covering is nearing its end.
#BTW
Watch for two things next:
First, whether open interest starts rising again—which could indicate new long positions entering. Second, whether the price loses momentum. If open interest keeps falling while the price stalls, it often means short covering is nearing its end.
#BTW