By the way, I was just looking at the contract data, and one detail about $BTW caught my eye: open interest is down 12.15% over the past 24 hours, while the price is up 3.16%.
The price is rising as open interest falls. It looks pretty bullish at first glance, but it’s probably mostly shorts closing their positions. I’ve chased similar rallies before, and once the short covering ends, the price loses steam. This time, I’ll first see whether open interest starts rising again.
What indicators do you usually look at?
The price is rising as open interest falls. It looks pretty bullish at first glance, but it’s probably mostly shorts closing their positions. I’ve chased similar rallies before, and once the short covering ends, the price loses steam. This time, I’ll first see whether open interest starts rising again.
What indicators do you usually look at?