Everyone, there’s something interesting about WET.
It’s up 19.347% over 24 hours. At first glance, I didn’t think much of it. What I only believed after checking twice was something else: a 30.64% trading range.
The price spiked from 0.0516 to 0.06741, then pulled back to 0.06255, still 7.21% below the 24-hour high.
It surged hard, but didn’t close nearly as strong.
I’m focused on where it is. The 20-day range runs from a high of 0.0806 to a low of 0.04491, and the current price is only 49.426% of the way up from the midpoint.
It looks lively, but really it’s just recovered half the ground it lost last week.
There’s only so much money and the pot is only so big. Whoever gets closest to it gets served first.
The funding rate is -0.5891%, settled every eight hours. That means shorts are paying longs.
What kind of mindset does someone have to keep paying to hold a short? My guess is they got spooked by the last few wicks and are waiting down below for it to fall back.
24-hour volume: 31.0304 million dollars, 508429 trades, and 14 of the 24 hourly candles closed higher.
Those are real tokens changing hands, not the illusion of resting limit orders.
By my reading, this looks more like liquidity rotating at the same price level than new money coming in.
30 days: -3.814%; 7 days: +12.825%. When those two timeframes are at odds, I usually look first at who’s taking profits.
What do you all make of this move? Let’s discuss in the comments.
$WET $BTC $ETH
#WET #比特币 #cryptocurrency
The above is a record of my personal trading system and observations of the data. It does not constitute investment advice.
It’s up 19.347% over 24 hours. At first glance, I didn’t think much of it. What I only believed after checking twice was something else: a 30.64% trading range.
The price spiked from 0.0516 to 0.06741, then pulled back to 0.06255, still 7.21% below the 24-hour high.
It surged hard, but didn’t close nearly as strong.
I’m focused on where it is. The 20-day range runs from a high of 0.0806 to a low of 0.04491, and the current price is only 49.426% of the way up from the midpoint.
It looks lively, but really it’s just recovered half the ground it lost last week.
There’s only so much money and the pot is only so big. Whoever gets closest to it gets served first.
The funding rate is -0.5891%, settled every eight hours. That means shorts are paying longs.
What kind of mindset does someone have to keep paying to hold a short? My guess is they got spooked by the last few wicks and are waiting down below for it to fall back.
24-hour volume: 31.0304 million dollars, 508429 trades, and 14 of the 24 hourly candles closed higher.
Those are real tokens changing hands, not the illusion of resting limit orders.
By my reading, this looks more like liquidity rotating at the same price level than new money coming in.
30 days: -3.814%; 7 days: +12.825%. When those two timeframes are at odds, I usually look first at who’s taking profits.
What do you all make of this move? Let’s discuss in the comments.
$WET $BTC $ETH
#WET #比特币 #cryptocurrency
The above is a record of my personal trading system and observations of the data. It does not constitute investment advice.
