When I first got into crypto, I only looked at candlestick charts. It was later that I got used to checking them alongside futures open interest. $ZEC is a great example:
Just looking at the chart, it was down 12.59% over 24 hours, so I thought longs were simply closing their positions. But when I checked open interest, I saw it had increased by 20.59%—which suggests new shorts were mainly adding to their positions.
Do you usually keep an eye on open interest data?
Just looking at the chart, it was down 12.59% over 24 hours, so I thought longs were simply closing their positions. But when I checked open interest, I saw it had increased by 20.59%—which suggests new shorts were mainly adding to their positions.
Do you usually keep an eye on open interest data?