A friend asked me what the recent open interest for $ARC looked like. I casually said:
“Over the past 24 hours, the price is up 38.48%, while open interest is actually down 15.47%. It’s probably been driven by shorts closing their positions. Whether it has more momentum depends on whether new longs come in.”
My friend then asked how to trade it. I said I really couldn’t say for sure. I usually just watch and decide once the price action plays out.
#ARC
“Over the past 24 hours, the price is up 38.48%, while open interest is actually down 15.47%. It’s probably been driven by shorts closing their positions. Whether it has more momentum depends on whether new longs come in.”
My friend then asked how to trade it. I said I really couldn’t say for sure. I usually just watch and decide once the price action plays out.
#ARC