$ELSA Most accounts and large traders are positioned in the same bullish direction. Huh? Neither side is betting against the other—the mismatch is hidden in the sentiment.
Over the past day, OI is up 46.96% from this time yesterday.
The long-to-short account ratio was 1.5221 at this time yesterday.
It has now fallen to 1.1195, so the increase in positions hasn’t brought traders into closer alignment.
The funding rate for this four-hour period is 0.005%, the same as the previous period.
I lean bearish, putting more faith in expanding positions and diverging sentiment. For now, I don’t buy the idea that everyone is bullish together.
The positive funding rate is counterevidence, keeping my bearish conviction moderate.
If the bulls take rising positions as proof of unity, pfft~—this move should be renamed “The laundry basket got heavier, so the whole family must love doing laundry.”
The price action puts its signature on this take:
A bearish view needs more evidence from a break below 0.0744.
I’ll admit I was wrong this time if 0.122 is broken above.
Your turn to check a box: “46.96% hides disagreement” or “46.96% adds up to consensus”?
#ELSA #Contract Data
Data is from Binance public market data and does not constitute investment advice
Over the past day, OI is up 46.96% from this time yesterday.
The long-to-short account ratio was 1.5221 at this time yesterday.
It has now fallen to 1.1195, so the increase in positions hasn’t brought traders into closer alignment.
The funding rate for this four-hour period is 0.005%, the same as the previous period.
I lean bearish, putting more faith in expanding positions and diverging sentiment. For now, I don’t buy the idea that everyone is bullish together.
The positive funding rate is counterevidence, keeping my bearish conviction moderate.
If the bulls take rising positions as proof of unity, pfft~—this move should be renamed “The laundry basket got heavier, so the whole family must love doing laundry.”
The price action puts its signature on this take:
A bearish view needs more evidence from a break below 0.0744.
I’ll admit I was wrong this time if 0.122 is broken above.
Your turn to check a box: “46.96% hides disagreement” or “46.96% adds up to consensus”?
#ELSA #Contract Data
Data is from Binance public market data and does not constitute investment advice
