Just a quick thought: I was looking through the contract data earlier, and one thing caught my eye: $GTC had a 10.74% drop in open interest over 24 hours, while the price was up 4.43%.
The price is rising while open interest is falling. It looks pretty strong at first glance, but it’s probably short covering. I’ve chased similar rallies before, only for the price to lose steam once the covering was over. This time, I’ll wait and see whether open interest starts rising again.
Share your thoughts in the comments.
#GTC
The price is rising while open interest is falling. It looks pretty strong at first glance, but it’s probably short covering. I’ve chased similar rallies before, only for the price to lose steam once the covering was over. This time, I’ll wait and see whether open interest starts rising again.
Share your thoughts in the comments.
#GTC