The price looks quiet; it’s just the quotes that don’t cry out in pain. But the long-to-short ratio for $BLESS is anything but quiet, eh~.
Over the past 24 hours, the price fell 26.58% from its previous level.
Over that same 24-hour period, the long-to-short ratio rose from 1.9044 to 2.3245.
I’m bearish: this looks more like the number of long positions increased without supporting the price, so I’m not calling it a turnaround just yet.
The rising ratio is also evidence against my view, showing that bullish sentiment is still there and dialing my bearish conviction back to cautious.
Calling a rise in the number of longs a price turnaround, pfft~—like watching the thermometer drop, then using an extra-long menu to prove the soup is still hot.
Late-night leaderboard check: no new entries today, and nobody dropped off.
$AIN’s price rose over the past 24 hours.
$INIT’s price fell over the past 24 hours.
Let the price have the final say:
If it breaks below 0.00851, the case that buyers can’t hold the line gets stronger.
If it breaks above 0.0143, I’ll withdraw my bearish view and admit I underestimated the support.
Do you think 2.3245 means the bulls are putting on a show, or that 2.3245 is already building momentum for a recovery?
#BLESS #StrongCoins
Data from Binance public market data; not investment advice
Over the past 24 hours, the price fell 26.58% from its previous level.
Over that same 24-hour period, the long-to-short ratio rose from 1.9044 to 2.3245.
I’m bearish: this looks more like the number of long positions increased without supporting the price, so I’m not calling it a turnaround just yet.
The rising ratio is also evidence against my view, showing that bullish sentiment is still there and dialing my bearish conviction back to cautious.
Calling a rise in the number of longs a price turnaround, pfft~—like watching the thermometer drop, then using an extra-long menu to prove the soup is still hot.
Late-night leaderboard check: no new entries today, and nobody dropped off.
$AIN’s price rose over the past 24 hours.
$INIT’s price fell over the past 24 hours.
Let the price have the final say:
If it breaks below 0.00851, the case that buyers can’t hold the line gets stronger.
If it breaks above 0.0143, I’ll withdraw my bearish view and admit I underestimated the support.
Do you think 2.3245 means the bulls are putting on a show, or that 2.3245 is already building momentum for a recovery?
#BLESS #StrongCoins
Data from Binance public market data; not investment advice
