$TA This lower wick has had my attention for a long time.
First, a quick note: this is my reconstruction.
Over four hours, it plunged from 0.09808 to 0.08473—a drop of 13 points—then recovered to 0.09527.
The current price is back at 0.09737.
If you only look at the closing price, you’d think nothing happened that night.
But if you were watching the market, you’d know that move flushed out a layer of leveraged positions.
I had to check the numbers twice before I could believe the size of the move.
During the same period, $BTC fell just 0.116%, while $ETH rose 0.175%. The broader market barely moved.
The funding rate was steep too, at 0.057622%.
That means people holding long positions are bleeding every eight hours.
As it gets closer to the 98.8th percentile, the urge to exit gets stronger.
So I don’t think this is just a supply-scarcity narrative.
It looks more like tokens are changing hands within the market.
Long accounts make up only 52.53%—nowhere near a one-sided market.
There’s still disagreement, and there are still buyers stepping in. The people closest to the action clearly aren’t ready to call it a day.
At this level, I’m staying alert. I’ll leave it to others to guess the direction; I’m just watching to see whether it can absorb all this liquidity.
What do you think?
#TA #比特币 #Cryptocurrency
The above is a record of my personal trading system and observations of the data, and does not constitute investment advice.
First, a quick note: this is my reconstruction.
Over four hours, it plunged from 0.09808 to 0.08473—a drop of 13 points—then recovered to 0.09527.
The current price is back at 0.09737.
If you only look at the closing price, you’d think nothing happened that night.
But if you were watching the market, you’d know that move flushed out a layer of leveraged positions.
I had to check the numbers twice before I could believe the size of the move.
During the same period, $BTC fell just 0.116%, while $ETH rose 0.175%. The broader market barely moved.
The funding rate was steep too, at 0.057622%.
That means people holding long positions are bleeding every eight hours.
As it gets closer to the 98.8th percentile, the urge to exit gets stronger.
So I don’t think this is just a supply-scarcity narrative.
It looks more like tokens are changing hands within the market.
Long accounts make up only 52.53%—nowhere near a one-sided market.
There’s still disagreement, and there are still buyers stepping in. The people closest to the action clearly aren’t ready to call it a day.
At this level, I’m staying alert. I’ll leave it to others to guess the direction; I’m just watching to see whether it can absorb all this liquidity.
What do you think?
#TA #比特币 #Cryptocurrency
The above is a record of my personal trading system and observations of the data, and does not constitute investment advice.
