Looking only at price can make you miss a lot of information. $WET 5-minute open interest +7.23%, while price +3.16%. Compare the two:
Open interest up, price up: new longs are entering.
When open interest keeps rising, watch whether the funding rate is also moving toward an extreme. Have you ever been caught by a sudden wick?
#WET
Open interest up, price up: new longs are entering.
When open interest keeps rising, watch whether the funding rate is also moving toward an extreme. Have you ever been caught by a sudden wick?
#WET