$BR This rally is pretty interesting. It’s up 3% over 15m, with volume jumping straight to 2.66x. Its notional change ranks #22 across the whole pool, but OI is actually down 0.34% over 15m and only barely up 0.33% over 1h. Price rallied 3 points, but positions didn’t follow—this looks more like short covering than fresh longs coming in.
The net aggressive trading volume is 11.5%, the buy/sell ratio is 1.26, and the close is still above the highs of nearly the last 20 5m candles. 24h trading volume is 310M, so liquidity is sufficient. But the OI anomaly percentile is only 62.7%, nowhere near crowded.
The breakout is real, and so is the momentum, but the positioning structure is a bit flimsy. Since the price move was driven by short covering, think carefully before chasing whether fresh money will step in to keep it going—otherwise, you could be the one left holding the bag when the covering runs out. $BR
The net aggressive trading volume is 11.5%, the buy/sell ratio is 1.26, and the close is still above the highs of nearly the last 20 5m candles. 24h trading volume is 310M, so liquidity is sufficient. But the OI anomaly percentile is only 62.7%, nowhere near crowded.
The breakout is real, and so is the momentum, but the positioning structure is a bit flimsy. Since the price move was driven by short covering, think carefully before chasing whether fresh money will step in to keep it going—otherwise, you could be the one left holding the bag when the covering runs out. $BR