$GTC rose 4.748% in 1 hour to 0.26322, with volume at 1.039 times the average for the previous 24 hours. I’m not trading at this level.
It’s risen quite a bit, but volume hasn’t kept up. Open interest is up 2.117% over 1 hour, while the funding rate is still at -0.0045417%—it hasn’t turned positive. The bulls aren’t rushing to buy, so this upswing wasn’t driven by leveraged longs piling in. I won’t guess which side added that 2.117% without a long/short breakdown.
Resistance at 0.27849 is right overhead. If I were to trade, I’d wait for it to break through 0.27849; I’d set the stop at 0.25397 based on ATR × 1.5, with support at 0.24018 and ATR at 0.0061657.
If you chase it now, what you stand to lose if you’re wrong is the distance from the current price to 0.25397.
#行情分析 #山寨季
Personal market notes; not investment advice. Pay attention to position sizing.
It’s risen quite a bit, but volume hasn’t kept up. Open interest is up 2.117% over 1 hour, while the funding rate is still at -0.0045417%—it hasn’t turned positive. The bulls aren’t rushing to buy, so this upswing wasn’t driven by leveraged longs piling in. I won’t guess which side added that 2.117% without a long/short breakdown.
Resistance at 0.27849 is right overhead. If I were to trade, I’d wait for it to break through 0.27849; I’d set the stop at 0.25397 based on ATR × 1.5, with support at 0.24018 and ATR at 0.0061657.
If you chase it now, what you stand to lose if you’re wrong is the distance from the current price to 0.25397.
#行情分析 #山寨季
Personal market notes; not investment advice. Pay attention to position sizing.