Last night at 19:31, when I called a long on $BEAMX , it was at 0.00504. This afternoon it reached a high of 0.00638, giving those who held on a 26% gain.
It wasn’t a smooth ride, though: at 4 a.m., a sharp wick down to 0.0047 flushed out a lot of people. But starting at noon, the hourly chart printed three consecutive bullish candles, surging from 0.00497 to above 0.0063.
Why am I still leaning bullish?
1️⃣ The volume is real: the 14:00 and 15:00 hourly candles each saw over 20 million U in volume, compared with just 2–3 million in the preceding hours. That’s money flowing in, not just people trading among themselves.
2️⃣ Open interest in futures rose from 24.06 million to 28.74 million U in three hours, with price and open interest rising together.
3️⃣ The long/short account ratio is only 0.81, and 55% of accounts are still short. The funding rate is just 0.005%—the trade isn’t crowded at all. The longer the bears hold out, the more fuel they provide.
My plan: I won’t chase the price. I’ll look to enter on a pullback near 0.0058, admit I’m wrong if it breaks below 0.0054, and initially target 0.0070.
Would you buy the pullback to 0.0058, or do you think 0.0063 is the top?
#BEAMX #轧空 #山寨币 #MarketAnalysis
It wasn’t a smooth ride, though: at 4 a.m., a sharp wick down to 0.0047 flushed out a lot of people. But starting at noon, the hourly chart printed three consecutive bullish candles, surging from 0.00497 to above 0.0063.
Why am I still leaning bullish?
1️⃣ The volume is real: the 14:00 and 15:00 hourly candles each saw over 20 million U in volume, compared with just 2–3 million in the preceding hours. That’s money flowing in, not just people trading among themselves.
2️⃣ Open interest in futures rose from 24.06 million to 28.74 million U in three hours, with price and open interest rising together.
3️⃣ The long/short account ratio is only 0.81, and 55% of accounts are still short. The funding rate is just 0.005%—the trade isn’t crowded at all. The longer the bears hold out, the more fuel they provide.
My plan: I won’t chase the price. I’ll look to enter on a pullback near 0.0058, admit I’m wrong if it breaks below 0.0054, and initially target 0.0070.
Would you buy the pullback to 0.0058, or do you think 0.0063 is the top?
#BEAMX #轧空 #山寨币 #MarketAnalysis
