$HYPE is trading at 77.375 today, within a 20-day range of 74.413 to 97.193, putting it at just the 13.003% percentile.
Since that October 29 wick at 97.193, it has shed 20.390%.
Honestly, I’ve been watching this level for three days.
Over the past seven days, the price has fallen from a high of 94.048 to today’s 79.67—a full 15.29% drop.
But the lows are edging up.
It plunged to 76.236 on November 5, 76.528 on the 6th, and 77.152 today. The lows have climbed one notch over two days, up 1.202%.
It’s as if someone is pulling both ends of the box inward by an inch each day.
Volatility is collapsing along with it. It was still 11.35% on November 5, 3.84% yesterday, and 3.26% today.
Over the past eight hours, it’s been just 1.759%—from 77.152 to 78.509, that’s the entire range of activity.
Volume is retreating at the same pace. So far today, 176.5 million has traded, averaging 10.2 million an hour. Yesterday’s full-day total was 523.7 million, or 21.82 million an hour. That’s down to just 46.8%.
No one is changing their positions. Over eight hours, open interest moved from 4.981 million contracts to 4.986 million, while notional value fell from 390.5 million to 385.3 million.
Over the same period, $BTC fell just 0.255%, while $ETH rose 0.055%. Its 1.701% drop wasn’t caused by the broader market dragging it down.
This is where I see things differently. The positions haven’t unwound, liquidity is receding, and the price is squeezed into a narrow area downstairs. Buyers willing to step in haven’t shown up yet.
My approach is to pay less attention during this kind of tightening phase and wait for it to pick a direction on its own.
There are only a few plates on the table, and no one is putting anything into the pot right now.
What do you think—which way will this box break?
#HYPE #比特币 #Cryptocurrency
The above is a record of my personal trading system and observations of the data. It does not constitute investment advice.
Since that October 29 wick at 97.193, it has shed 20.390%.
Honestly, I’ve been watching this level for three days.
Over the past seven days, the price has fallen from a high of 94.048 to today’s 79.67—a full 15.29% drop.
But the lows are edging up.
It plunged to 76.236 on November 5, 76.528 on the 6th, and 77.152 today. The lows have climbed one notch over two days, up 1.202%.
It’s as if someone is pulling both ends of the box inward by an inch each day.
Volatility is collapsing along with it. It was still 11.35% on November 5, 3.84% yesterday, and 3.26% today.
Over the past eight hours, it’s been just 1.759%—from 77.152 to 78.509, that’s the entire range of activity.
Volume is retreating at the same pace. So far today, 176.5 million has traded, averaging 10.2 million an hour. Yesterday’s full-day total was 523.7 million, or 21.82 million an hour. That’s down to just 46.8%.
No one is changing their positions. Over eight hours, open interest moved from 4.981 million contracts to 4.986 million, while notional value fell from 390.5 million to 385.3 million.
Over the same period, $BTC fell just 0.255%, while $ETH rose 0.055%. Its 1.701% drop wasn’t caused by the broader market dragging it down.
This is where I see things differently. The positions haven’t unwound, liquidity is receding, and the price is squeezed into a narrow area downstairs. Buyers willing to step in haven’t shown up yet.
My approach is to pay less attention during this kind of tightening phase and wait for it to pick a direction on its own.
There are only a few plates on the table, and no one is putting anything into the pot right now.
What do you think—which way will this box break?
#HYPE #比特币 #Cryptocurrency
The above is a record of my personal trading system and observations of the data. It does not constitute investment advice.
