$XRP 1.29, down three points in a day.
The size of the drop is the result. What I’m watching is the volume on this morning’s 9 a.m. candle.
That hour saw 6.21 million coins traded, three times the previous candle’s volume, while the price was slammed from 13,208 to 12,983. Over the next seven hours, volume fell to two or three million, and the price moved sideways in this range.
The sellers got it all out in one go.
Open interest on the futures side is 307 million coins. It moved by just one-thousandth over 24 hours, and the funding rate is still positive. This drop wasn’t caused by leveraged selling, and bears haven’t kept adding to their positions at this level.
$BTC stayed around 80,000 for a day; $ETH fell by a little over two points.
When will buyers show up? Hard to say.
Hold above 1.30, and look toward 1.32. A break below 1.2867 puts 1.2733 in view. Keep an eye on these four-hour closes; don’t force a trade in this range.
#比特币 #Binance Square
The size of the drop is the result. What I’m watching is the volume on this morning’s 9 a.m. candle.
That hour saw 6.21 million coins traded, three times the previous candle’s volume, while the price was slammed from 13,208 to 12,983. Over the next seven hours, volume fell to two or three million, and the price moved sideways in this range.
The sellers got it all out in one go.
Open interest on the futures side is 307 million coins. It moved by just one-thousandth over 24 hours, and the funding rate is still positive. This drop wasn’t caused by leveraged selling, and bears haven’t kept adding to their positions at this level.
$BTC stayed around 80,000 for a day; $ETH fell by a little over two points.
When will buyers show up? Hard to say.
Hold above 1.30, and look toward 1.32. A break below 1.2867 puts 1.2733 in view. Keep an eye on these four-hour closes; don’t force a trade in this range.
#比特币 #Binance Square
