Last night, LINK rose 2.45% on the 4-hour candle, but active spot flow was still net selling 49,793 LINK. That candle matched 497,076 LINK, the second-highest in 30 candles. Price went up while active orders were still dumping, so the buying force must have come from elsewhere.
Looking back through 499 four-hour candles since 31/7, I found 7 times when LINK rose more than 2% in a single candle while active flow was still negative. After 24 hours, price was higher 6 out of 7 times: median +1.28%, best +9.01%, worst -0.48%.
Now the price is $12.60, up 2.10% in 24 hours, still 0.8% below the signal candle close at $12.699. Open interest is flat at 8.32 million contracts, down slightly 0.12%. Funding rates are around 0.0047% per 8 hours, with some sources still negative, so neither side is paying meaningful fees yet. 24-hour liquidations are clearly tilted toward the bears: 4,329 LINK versus 689 LINK on the bullish side.
The 7-case sample is still small, but it suggests that net selling during an upswing is usually just short-term profit taking. I lean toward LINK holding $12.267 and then pushing to $12.80–$12.90 over the next few sessions. If the 4-hour candle closes below $12.267, I will discard this view. $LINK #Chainlink #Altcoin
Looking back through 499 four-hour candles since 31/7, I found 7 times when LINK rose more than 2% in a single candle while active flow was still negative. After 24 hours, price was higher 6 out of 7 times: median +1.28%, best +9.01%, worst -0.48%.
Now the price is $12.60, up 2.10% in 24 hours, still 0.8% below the signal candle close at $12.699. Open interest is flat at 8.32 million contracts, down slightly 0.12%. Funding rates are around 0.0047% per 8 hours, with some sources still negative, so neither side is paying meaningful fees yet. 24-hour liquidations are clearly tilted toward the bears: 4,329 LINK versus 689 LINK on the bullish side.
The 7-case sample is still small, but it suggests that net selling during an upswing is usually just short-term profit taking. I lean toward LINK holding $12.267 and then pushing to $12.80–$12.90 over the next few sessions. If the 4-hour candle closes below $12.267, I will discard this view. $LINK #Chainlink #Altcoin