$ZRO This move is pretty interesting: it jumped 2% in 15m, with volume reaching 7.7x normal, a buy/sell ratio of 1.84, and aggressive buyers accounting for nearly 60%. It also closed above the upper end of the last nearly 20 5m candles.
The key point is that OI rose only 0.03%, with a notional change of 257K, and was still negative on the hourly timeframe. With price moving up this sharply but positions barely increasing, this doesn’t look like a squeeze driven by short covering; it looks more like new leveraged longs stepping in. The funding rate has also climbed into a recent high percentile, and the anomaly ranks 13th across the entire pool, with a notional change of 12—so depth seems to be confirming the move.
With this kind of setup, I usually don’t dare chase the first candle. Volume is too concentrated. I’d wait for a pullback and see whether it can hold above the range before deciding.
The key point is that OI rose only 0.03%, with a notional change of 257K, and was still negative on the hourly timeframe. With price moving up this sharply but positions barely increasing, this doesn’t look like a squeeze driven by short covering; it looks more like new leveraged longs stepping in. The funding rate has also climbed into a recent high percentile, and the anomaly ranks 13th across the entire pool, with a notional change of 12—so depth seems to be confirming the move.
With this kind of setup, I usually don’t dare chase the first candle. Volume is too concentrated. I’d wait for a pullback and see whether it can hold above the range before deciding.