$BCH suddenly saw a huge surge in volume around midnight, with 15m volume hitting 3.6x the average. This candle means business.
OI rose in tandem, with 1h notional adding 1.66M. The anomaly percentile was 98.8%, ranking 10th across the entire pool—at this point, this kind of combination looks more like leveraged new longs entering than shorts covering. Aggressive trade delta was +7.4%, and the buy/sell ratio was 1.16, so buyers are definitely stepping in.
Price has closed above the upper end of the last 20 5m candles, approaching a historically extreme zone. Volume is there, OI has continued across multiple timeframes, and depth confirmation is fairly solid.
Don't chase the price in the short term; watch to see whether it can hold above the top of this range. $BCH
OI rose in tandem, with 1h notional adding 1.66M. The anomaly percentile was 98.8%, ranking 10th across the entire pool—at this point, this kind of combination looks more like leveraged new longs entering than shorts covering. Aggressive trade delta was +7.4%, and the buy/sell ratio was 1.16, so buyers are definitely stepping in.
Price has closed above the upper end of the last 20 5m candles, approaching a historically extreme zone. Volume is there, OI has continued across multiple timeframes, and depth confirmation is fairly solid.
Don't chase the price in the short term; watch to see whether it can hold above the top of this range. $BCH
