Just looking at candlesticks can make you miss half the picture. $IRYS 1-hour open interest: +5.05%, price: +6.83%. Compare them:
Open interest rises, price rises: new longs are entering aggressively.
When open interest continues to increase, watch whether the funding rate is also moving toward extremes. What leverage level is considered safe? Share your thoughts in the comments.
#IRYS
Open interest rises, price rises: new longs are entering aggressively.
When open interest continues to increase, watch whether the funding rate is also moving toward extremes. What leverage level is considered safe? Share your thoughts in the comments.
#IRYS