The price of $BTC has been moving sideways for several sessions, but the OI matrix makes it clear that the longs are running out of steam. Right now, most of the market—from $BTC (-1.00% price, -2.11% OI) to ETH (-2.02% price, -0.88% OI), SOL (-2.06% price, -4.80% OI), ZEC (-4.42% price, -5.65% OI), and NEAR (-3.28% price, -3.54% OI)—is showing signs of exhaustion, in the Price ↓ + OI ↓ zone. This suggests longs are cutting their losses en masse, which often happens near a bottom. 👀 XRP, meanwhile, is going the other way: its price is down -2.71% while OI is up +0.55%, suggesting shorts are actively opening new positions and pushing the price into a sharp downtrend.
Don’t get carried away and chase a rally when the price rises but OI drops sharply. That’s often a short-liquidation trap; without new money flowing in, the rally can easily lose structure. 🤓
Anyone picking up $BTC at this level? Or are you waiting for another sea of red before getting in? 😏
#Write2Earn #BinanceFutures #Altcoin
(This post is for sharing purposes only and is not investment advice)
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Don’t get carried away and chase a rally when the price rises but OI drops sharply. That’s often a short-liquidation trap; without new money flowing in, the rally can easily lose structure. 🤓
Anyone picking up $BTC at this level? Or are you waiting for another sea of red before getting in? 😏
#Write2Earn #BinanceFutures #Altcoin
(This post is for sharing purposes only and is not investment advice)
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