Looking only at candlesticks can mean missing half the picture. $DOOD 1-hour open interest: +31.59%; price: +7.92%. Compare the two:
Rising open interest, rising price: new long positions are entering.
If open interest keeps increasing, watch to see whether the funding rate is heading toward an extreme. Have you ever been caught in a wick?
Rising open interest, rising price: new long positions are entering.
If open interest keeps increasing, watch to see whether the funding rate is heading toward an extreme. Have you ever been caught in a wick?