Regarding $AIOT , I have a strong feeling that longs are about to get wrecked.
Open interest is rising and the funding rate is positive, but damn, take a look at the liquidation map.
Most of the liquidity is below 0.15, not above.
If it drops below 0.158, I think we'll see a quick flush down to the 0.15–0.145 zone to sweep the long stops.
Going long only makes sense if we reclaim 0.17 and hold it; then, yes, we're headed to 0.18–0.19.
Comment below: who bought, and who's waiting for lower prices?
#AIOT #CryptoTrading #Binance
Open interest is rising and the funding rate is positive, but damn, take a look at the liquidation map.
Most of the liquidity is below 0.15, not above.
If it drops below 0.158, I think we'll see a quick flush down to the 0.15–0.145 zone to sweep the long stops.
Going long only makes sense if we reclaim 0.17 and hold it; then, yes, we're headed to 0.18–0.19.
Comment below: who bought, and who's waiting for lower prices?
#AIOT #CryptoTrading #Binance
