$AKE this 15m candle is pretty brutal: -6.23%, slicing straight through the lows of the previous 20 5m candles. Volume surged to 13.53x, the buy/sell ratio was 0.70, and the taker buy/sell delta was -17.9%—clearly driven by aggressive selling.
More interesting is the OI: price fell while OI edged up, strongly suggesting fresh leveraged shorts are entering. Funding is also at a high percentile recently, so shorts are getting pretty crowded. It ranks near the top across the entire pool for notional change, but that change is negative, which suggests this isn't just a drop caused by longs closing out.
With this setup, I’m most wary of chasing shorts—crowded positioning plus high funding means any bounce could come fast. First, let's see whether price can reclaim this move's low; if it can't, then we'll reassess.
More interesting is the OI: price fell while OI edged up, strongly suggesting fresh leveraged shorts are entering. Funding is also at a high percentile recently, so shorts are getting pretty crowded. It ranks near the top across the entire pool for notional change, but that change is negative, which suggests this isn't just a drop caused by longs closing out.
With this setup, I’m most wary of chasing shorts—crowded positioning plus high funding means any bounce could come fast. First, let's see whether price can reclaim this move's low; if it can't, then we'll reassess.