I used to look only at price, but later learned to consider it alongside futures open interest. $IRYS is a good example today:
Looking only at price, a 18.75% rise over 24 hours might make you think new money is flowing in. But when you look at open interest, you see it’s down 12.33%—which looks more like short positions being closed.
Do you usually compare price with open interest?
#IRYS
Looking only at price, a 18.75% rise over 24 hours might make you think new money is flowing in. But when you look at open interest, you see it’s down 12.33%—which looks more like short positions being closed.
Do you usually compare price with open interest?
#IRYS