Looking only at price makes it easy to miss half the picture. $HOT 15-minute open interest: +3.64%; price: +3.2%. Viewed together:
Rising open interest and rising price: new longs are actively entering.
When open interest continues to rise, watch whether the funding rate is also climbing. Would you dare to open a position here?
#HOT
Just my personal take—it may not be accurate, so please use caution.
Rising open interest and rising price: new longs are actively entering.
When open interest continues to rise, watch whether the funding rate is also climbing. Would you dare to open a position here?
#HOT
Just my personal take—it may not be accurate, so please use caution.