$BEAT has made an interesting move over the past 15m. +2.01% isn’t huge, but the close pushed straight above the highs of the last 20 5m candles. The aggressive buy/sell ratio is 1.37 and volume delta is 15.8%—buyers are clearly pushing it higher.
The OI data is even more interesting: 15m contract OI is up 0.29%, while notional OI is up 2.88%, suggesting new leveraged longs are entering rather than this being a short-covering rally. Its anomaly percentile is 93.8%, ranking #14 across the pool, and the funding rate has also climbed to a recent high percentile.
The concern is that 1h OI is still down 0.16%. The short-term move has been sharp, and whether it lasts depends on volume continuing to come in. Chasing this setup risks getting wicked out, so I’d rather wait for a pullback and confirmation than jump in when sentiment is hottest and end up being the last buyer.
The OI data is even more interesting: 15m contract OI is up 0.29%, while notional OI is up 2.88%, suggesting new leveraged longs are entering rather than this being a short-covering rally. Its anomaly percentile is 93.8%, ranking #14 across the pool, and the funding rate has also climbed to a recent high percentile.
The concern is that 1h OI is still down 0.16%. The short-term move has been sharp, and whether it lasts depends on volume continuing to come in. Chasing this setup risks getting wicked out, so I’d rather wait for a pullback and confirmation than jump in when sentiment is hottest and end up being the last buyer.
