Looking at price alone can mean missing half the picture. $BIRB 15-minute open interest: +2.69%; price: -2.87%. Compare the two:
Rising open interest while price falls means new shorts are entering.
If open interest keeps piling up, watch whether the funding rate is also heading toward extremes. Have you ever been caught out by a wick?
Rising open interest while price falls means new shorts are entering.
If open interest keeps piling up, watch whether the funding rate is also heading toward extremes. Have you ever been caught out by a wick?