The 15-minute candle at 4 p.m.: $ON surged straight from 0.1864 to 0.2248, with nearly 9 million U traded in a single candle. In the preceding few hours, each candle had only seen a few hundred thousand. Even more important were the next two hours: it didn’t pull back, and at 17:15 it pushed up to 0.25 again.
I’m bullish, and the reasons are all in the data:
Open interest rose from 68.27 million contracts at 15:45 to 73.53 million at 18:00, while the value of open interest climbed from 12.75 million U to 17.81 million U. Money is flowing in—not just pulling out after a pump.
The percentage of accounts holding long positions actually fell from 63% to 57.4%, and the retail long/short ratio dropped from 1.70 to 1.35. The higher the price goes, the more people are opening shorts.
The funding rate has been positive for several periods in a row, with the current estimate at 0.0646%. Longs would rather pay the fee than get out.
Shorts are adding positions against the trend as prices rise, while open interest climbs in tandem—that’s fuel for the next leg up. 0.25 is today’s high; a high-volume break above it would mark the start of a new leg. Watch 0.2279 as support; exit if it breaks below.
Are you holding a long or a short right now? Share your reasoning.
#ON #山寨币 #FuturesData
I’m bullish, and the reasons are all in the data:
Open interest rose from 68.27 million contracts at 15:45 to 73.53 million at 18:00, while the value of open interest climbed from 12.75 million U to 17.81 million U. Money is flowing in—not just pulling out after a pump.
The percentage of accounts holding long positions actually fell from 63% to 57.4%, and the retail long/short ratio dropped from 1.70 to 1.35. The higher the price goes, the more people are opening shorts.
The funding rate has been positive for several periods in a row, with the current estimate at 0.0646%. Longs would rather pay the fee than get out.
Shorts are adding positions against the trend as prices rise, while open interest climbs in tandem—that’s fuel for the next leg up. 0.25 is today’s high; a high-volume break above it would mark the start of a new leg. Watch 0.2279 as support; exit if it breaks below.
Are you holding a long or a short right now? Share your reasoning.
#ON #山寨币 #FuturesData
