I’ve been watching ZHIPU for three days.
Over the past 24 hours, it’s up 16.404%, while Bitcoin is up 0.494% and Ethereum 0.560%.
The whole market has barely moved; only ZHIPU is pushing higher. I’d classify this kind of move as rotation, not a reversal.
On a 30-day basis, it’s still at -12.44%; over 7 days, it’s up 12.61%. The 20-day range is 55.90 to 88.72,
with the current price of 70.89 at the 45.67th percentile—mid-to-low range, neither cheap nor expensive.
The funding rate is 0.0000%, open interest is 289,900 contracts, and 24-hour trading volume is 53.03 million USDT.
Longs haven’t paid any funding for this move, and leverage hasn’t piled up. Seeing those two things together is what makes me believe spot buyers are accumulating.
ATR14 is around 7.5%, so a move of about 5% in a day is normal for it. You’d get it completely wrong if you applied Bitcoin’s volatility to it.
It’s like that breakfast place by the neighborhood entrance: in the morning, the line stretches to the curb; by noon, there’s not a soul there.
If you judge its business for the whole day by the morning queue, you’re bound to get it wrong.
It’s only been two months since it launched on August 29.
The market is still small.
Liquidity for new contracts like this is thin. One large order can push the price up by more than ten points—and the reverse is just as true.
Price held around 55.90 for six trading days, giving the market plenty of time to turn over its positions. Now that the price has moved up, tonight’s volume will tell us whether the buying support is still there.
What do you think of this 45.67% level? Let’s discuss in the comments.
$ZHIPU $BTC $ETH
#ZHIPU #比特币 #加密货币
The above is a record of my personal trading system and observations of market data. It does not constitute investment advice.
Over the past 24 hours, it’s up 16.404%, while Bitcoin is up 0.494% and Ethereum 0.560%.
The whole market has barely moved; only ZHIPU is pushing higher. I’d classify this kind of move as rotation, not a reversal.
On a 30-day basis, it’s still at -12.44%; over 7 days, it’s up 12.61%. The 20-day range is 55.90 to 88.72,
with the current price of 70.89 at the 45.67th percentile—mid-to-low range, neither cheap nor expensive.
The funding rate is 0.0000%, open interest is 289,900 contracts, and 24-hour trading volume is 53.03 million USDT.
Longs haven’t paid any funding for this move, and leverage hasn’t piled up. Seeing those two things together is what makes me believe spot buyers are accumulating.
ATR14 is around 7.5%, so a move of about 5% in a day is normal for it. You’d get it completely wrong if you applied Bitcoin’s volatility to it.
It’s like that breakfast place by the neighborhood entrance: in the morning, the line stretches to the curb; by noon, there’s not a soul there.
If you judge its business for the whole day by the morning queue, you’re bound to get it wrong.
It’s only been two months since it launched on August 29.
The market is still small.
Liquidity for new contracts like this is thin. One large order can push the price up by more than ten points—and the reverse is just as true.
Price held around 55.90 for six trading days, giving the market plenty of time to turn over its positions. Now that the price has moved up, tonight’s volume will tell us whether the buying support is still there.
What do you think of this 45.67% level? Let’s discuss in the comments.
$ZHIPU $BTC $ETH
#ZHIPU #比特币 #加密货币
The above is a record of my personal trading system and observations of market data. It does not constitute investment advice.
