$HOT Shorts are paying longs: funding rate -0.957%, ranked #2 across the market.
My take: Short positions are crowded, and holding costs are still accumulating. Open interest is up 2.43% over 1 hour, and the large-trader long/short ratio is 1.39.
0.00038437 above (15m structure level · tested 6 times) is the nearest resistance; 0.00037298 below (15m structure level · tested 5 times) is the nearest support. If positions on the crowded side are reduced all at once, the price is more likely to move in the direction of deleveraging.
#HOT #Binance Futures
My take: Short positions are crowded, and holding costs are still accumulating. Open interest is up 2.43% over 1 hour, and the large-trader long/short ratio is 1.39.
0.00038437 above (15m structure level · tested 6 times) is the nearest resistance; 0.00037298 below (15m structure level · tested 5 times) is the nearest support. If positions on the crowded side are reduced all at once, the price is more likely to move in the direction of deleveraging.
#HOT #Binance Futures
