Watch the money, not the talk:
$BULLA contract open interest is up 13.01% over the past 24 hours, while the price is down 50.22%. There’s still $10.57 million in open interest on the exchange.
With price falling and open interest rising, the new positions appear to lean more toward the short side, as if traders are piling on to push the price down. But some bulls could also be buying the dip. When too many shorts pile up, even a brief bounce can trigger a chain of covering.
#BULLA
Manage your own risk—just sharing some thoughts.
$BULLA contract open interest is up 13.01% over the past 24 hours, while the price is down 50.22%. There’s still $10.57 million in open interest on the exchange.
With price falling and open interest rising, the new positions appear to lean more toward the short side, as if traders are piling on to push the price down. But some bulls could also be buying the dip. When too many shorts pile up, even a brief bounce can trigger a chain of covering.
#BULLA
Manage your own risk—just sharing some thoughts.
