$PIEVERSE This 15m drop of 1.4% may not look deep, but trading volume jumped to 2.09x, and volatility Z is approaching 3. That suggests this isn't just a slow grind downward—there's real selling at the boundary. The lower edge of the range from the last 20 or so 5m candles has already broken. Aggressive trade imbalance is -15.7%, and the buy/sell ratio is 0.73, showing a clear tilt toward selling.
However, OI is falling along with price, and the notional changes on both the 1h and 15m timeframes are negative. This looks more like longs de-leveraging, stop-losses being triggered, or positions shrinking than a major influx of new shorts. I’m more inclined to see this as a round of leveraged positions getting flushed out, not yet a trend reversal to the downside. First, watch whether price can quickly reclaim the lower boundary after breaking below it. If it can't, then we can discuss the next move—don't rush to chase shorts.
However, OI is falling along with price, and the notional changes on both the 1h and 15m timeframes are negative. This looks more like longs de-leveraging, stop-losses being triggered, or positions shrinking than a major influx of new shorts. I’m more inclined to see this as a round of leveraged positions getting flushed out, not yet a trend reversal to the downside. First, watch whether price can quickly reclaim the lower boundary after breaking below it. If it can't, then we can discuss the next move—don't rush to chase shorts.
