$AVA 's 15m candle plunged 4.62%, with volume at 2.31x—this doesn't look like an ordinary pullback.
What's interesting is the OI: 15m futures OI is down 1.5%, while 1h OI is up 1.92%. Price down + OI down looks more like longs deleveraging and stop-losses being triggered than new shorts entering. The taker flow delta is -7.7%, and the buy/sell ratio is 0.86, with sellers in control.
Price has already broken below the low of the last 20 5m candles, and 24h trading volume of 76M is no small amount either. The OI anomaly percentile is 95.6%, ranking #2 across the entire pool. At a level like this, it could be either a shakeout or a precursor to a reversal.
I'm watching to see whether it can quickly reclaim the bottom of the range. If it can't, there may be another leg down.
What's interesting is the OI: 15m futures OI is down 1.5%, while 1h OI is up 1.92%. Price down + OI down looks more like longs deleveraging and stop-losses being triggered than new shorts entering. The taker flow delta is -7.7%, and the buy/sell ratio is 0.86, with sellers in control.
Price has already broken below the low of the last 20 5m candles, and 24h trading volume of 76M is no small amount either. The OI anomaly percentile is 95.6%, ranking #2 across the entire pool. At a level like this, it could be either a shakeout or a precursor to a reversal.
I'm watching to see whether it can quickly reclaim the bottom of the range. If it can't, there may be another leg down.