I was wrong on this one! At 13:00, I called a short on $LYN at 0.0198, saying I’d admit I was wrong if it held above 0.0205. But at 14:00, it broke out on a surge in volume, climbing as high as 0.0225—up 13% from where I called the short. You have to own it when a trade proves you wrong. It’s now at 0.0213, and I’m flipping long.
Why I’m turning bullish:
1️⃣ The price kept rising, but the percentage of accounts going long fell from 80% to 73%, while shorts kept piling in. That’s fuel for the rally.
2️⃣ Open interest rose from 11.6 million U to 16 million U in 4 hours. Traders are adding positions as the price rises—real money is flowing in.
3️⃣ The wick down to 0.0201 at 15:00 was immediately bought back up. The 0.0200–0.0205 area, which used to be resistance, has now turned into support.
Risk: The funding rate is up to +0.017% and starting to heat up. Don’t go all-in chasing the rally.
Plan: Add in batches on a pullback to 0.0205–0.0208. First target is the previous high at 0.0225. If it breaks below 0.0200, I’ll admit I’m wrong and exit.
Can it break above 0.0225? Are you bullish or bearish?
#LYN #山寨币 #合约 #MarketAnalysis
Why I’m turning bullish:
1️⃣ The price kept rising, but the percentage of accounts going long fell from 80% to 73%, while shorts kept piling in. That’s fuel for the rally.
2️⃣ Open interest rose from 11.6 million U to 16 million U in 4 hours. Traders are adding positions as the price rises—real money is flowing in.
3️⃣ The wick down to 0.0201 at 15:00 was immediately bought back up. The 0.0200–0.0205 area, which used to be resistance, has now turned into support.
Risk: The funding rate is up to +0.017% and starting to heat up. Don’t go all-in chasing the rally.
Plan: Add in batches on a pullback to 0.0205–0.0208. First target is the previous high at 0.0225. If it breaks below 0.0200, I’ll admit I’m wrong and exit.
Can it break above 0.0225? Are you bullish or bearish?
#LYN #山寨币 #合约 #MarketAnalysis
