$JCT The current price looks quiet at first glance, but open interest hasn't been idle at all, huh~.
Over the past 6 hours, the price has fallen 31.49% from where it was before.
Over the same period, open interest actually rose 3.70%.
From Cathie Wood's perspective, the technicals and trend still lean bullish.
This counterevidence has toned my bearish conviction down to mild, mm-hmm.
From Burry's perspective, the increase in open interest hasn't supported the price.
I see mounting pressure, not strength building for a rebound.
Bulls call it building strength; I call it “the elevator going down while someone keeps stuffing bricks into the suitcase.”
Here's how to test the limits of this argument:
A break below 0.00255 would add support to the bearish case.
A move above 0.0213, and I'll strike out my bearish conclusion.
Do you think “3.70% is a burden on the way down,”
or “3.70% is the confidence behind a recovery”?
#JCT #Candlestick Analysis
Data from Binance public market data; not investment advice.
Over the past 6 hours, the price has fallen 31.49% from where it was before.
Over the same period, open interest actually rose 3.70%.
From Cathie Wood's perspective, the technicals and trend still lean bullish.
This counterevidence has toned my bearish conviction down to mild, mm-hmm.
From Burry's perspective, the increase in open interest hasn't supported the price.
I see mounting pressure, not strength building for a rebound.
Bulls call it building strength; I call it “the elevator going down while someone keeps stuffing bricks into the suitcase.”
Here's how to test the limits of this argument:
A break below 0.00255 would add support to the bearish case.
A move above 0.0213, and I'll strike out my bearish conclusion.
Do you think “3.70% is a burden on the way down,”
or “3.70% is the confidence behind a recovery”?
#JCT #Candlestick Analysis
Data from Binance public market data; not investment advice.
