$BAT has made an interesting move over the past 15m: price is up 1.77%, breaking above the top of the range from the last 20 5m candles, while OI is falling—down 0.18% over 15m and 0.41% over 1h. This doesn’t look like new longs entering; it looks more like shorts covering or positions being closed out involuntarily. The taker volume imbalance is 9.3%, the buy/sell ratio is 1.21, so short-term buying is indeed pushing the price higher. The Z-score is 2.40, showing increased volatility, and volume is at 1.40x.
However, the OI anomaly percentile is already at 89.5%, ranking #37 across the entire pool. I generally wouldn’t chase a long in this kind of setup. Once a rally driven by short covering loses steam, it can easily give back all its gains. Let’s first see whether price can hold above the top of this range.
However, the OI anomaly percentile is already at 89.5%, ranking #37 across the entire pool. I generally wouldn’t chase a long in this kind of setup. Once a rally driven by short covering loses steam, it can easily give back all its gains. Let’s first see whether price can hold above the top of this range.