$BIRB 15-minute contract open interest increased by 6.29%; the price rose 16.02% over the same period.
Let’s unpack what these numbers mean.
Open interest value = number of coins held × price. When the price rises, the value rises too. Comparing the number of coins gives a clearer picture of whether new positions have actually been opened.
If the price is mostly flat while open interest rises noticeably, it suggests both bulls and bears are placing bets. A larger move is often more likely afterward, though its direction is uncertain.
Don’t place an order during the fastest part of a move. Wait for the candlestick to close before deciding.
Let’s unpack what these numbers mean.
Open interest value = number of coins held × price. When the price rises, the value rises too. Comparing the number of coins gives a clearer picture of whether new positions have actually been opened.
If the price is mostly flat while open interest rises noticeably, it suggests both bulls and bears are placing bets. A larger move is often more likely afterward, though its direction is uncertain.
Don’t place an order during the fastest part of a move. Wait for the candlestick to close before deciding.