As a seasoned crypto trader, I was looking at the futures data today, and $UAI caught my eye: open interest is up 26.92% over the past 24 hours, while the price is down 43.98%.
Adding to positions as the price falls probably means new shorts are pushing it down. But I’ve also seen plenty of cases where an overcrowded short trade gets squeezed by a sudden spike, so in moments like this, I neither chase the short nor rush to buy the dip.
Feel free to share your thoughts in the comments.
#UAI
Adding to positions as the price falls probably means new shorts are pushing it down. But I’ve also seen plenty of cases where an overcrowded short trade gets squeezed by a sudden spike, so in moments like this, I neither chase the short nor rush to buy the dip.
Feel free to share your thoughts in the comments.
#UAI