What does $AIN ’s position data tell us? Over 24 hours, open interest fell 10.54% while the price rose 23.33%, with about $47.58 million in the market.
My take: it’s probably shorts closing their positions, and the buying pushing the price up is likely short covering. Once the covering is over, the question is whether new bulls will step in.
What leverage do you consider safe? Let’s discuss in the comments.
My take: it’s probably shorts closing their positions, and the buying pushing the price up is likely short covering. Once the covering is over, the question is whether new bulls will step in.
What leverage do you consider safe? Let’s discuss in the comments.