The price of 0.03142 mentioned in the previous post ($BMT ) has been recovered in the last four hours. The current price is 0.03361 USDT, a 10.78% increase in four hours; however, the 24-hour loss is still -12.66%, meaning the day's drop hasn't been fully recovered.
This four-hour candlestick pattern wasn't a sudden spike at the end: it opened at 0.03033, reached 0.03261 in the first three hours, and only touched 0.03445 in the last hour, closing at 0.0336, 2.5% away from the high.
What didn't keep up was the cost basis and volume. The funding rate is -0.0203%, almost the same as the -0.0154% in the previous post, still near the zero line; the marked price of 0.03350 is also still about 0.3% below the spot price. 24-hour trading volume was approximately 18.27 million USDT, about 10% less than the 20.33 million USDT in the previous post. The price rose, but the volume actually decreased.
For this upward move to continue, it needs to close above 0.03445; if it closes below 0.03012, the entire move will be wiped out, and the next low would be the low of 0.02885 in the previous post. The next funding rate settlement is at 05:00 Taipei time. If the reading deviates from the zero line, the cost basis will be re-evaluated.
However, this 14.4% range in the four-hour chart, without increased volume and with the cost basis flat, could be wiped out in a single four-hour candle. Whether a new upward move can continue will only be clear in the next four-hour chart.
#MarketAnalysis
This four-hour candlestick pattern wasn't a sudden spike at the end: it opened at 0.03033, reached 0.03261 in the first three hours, and only touched 0.03445 in the last hour, closing at 0.0336, 2.5% away from the high.
What didn't keep up was the cost basis and volume. The funding rate is -0.0203%, almost the same as the -0.0154% in the previous post, still near the zero line; the marked price of 0.03350 is also still about 0.3% below the spot price. 24-hour trading volume was approximately 18.27 million USDT, about 10% less than the 20.33 million USDT in the previous post. The price rose, but the volume actually decreased.
For this upward move to continue, it needs to close above 0.03445; if it closes below 0.03012, the entire move will be wiped out, and the next low would be the low of 0.02885 in the previous post. The next funding rate settlement is at 05:00 Taipei time. If the reading deviates from the zero line, the cost basis will be re-evaluated.
However, this 14.4% range in the four-hour chart, without increased volume and with the cost basis flat, could be wiped out in a single four-hour candle. Whether a new upward move can continue will only be clear in the next four-hour chart.
#MarketAnalysis
