Looking only at candlestick charts can make you miss half the picture. $BIRB 15-minute open interest: +4.21%; price: +5.3%. Compare the two:
Rising open interest, rising price: new longs are entering aggressively.
If open interest keeps piling up, watch whether the funding rate is also moving toward extremes. Would you open a position here?
Rising open interest, rising price: new longs are entering aggressively.
If open interest keeps piling up, watch whether the funding rate is also moving toward extremes. Would you open a position here?
