Looking only at candlesticks makes it easy to miss half the picture. $BIRB 1-hour open interest is up 6.11%, while price is down 5.68%. Put them together:
Rising open interest, falling price: new short positions are entering the market.
As open interest keeps piling up, watch whether funding rates are also heading toward extremes. Do you usually use leverage?
Rising open interest, falling price: new short positions are entering the market.
As open interest keeps piling up, watch whether funding rates are also heading toward extremes. Do you usually use leverage?