$ZIL Chopped sideways all afternoon, then suddenly woke up at 7:15: in half an hour it climbed from 0.00170 to 0.001903, and it’s still hovering around 0.00186. Is this a genuine breakout or a bull trap? I’m betting on a genuine breakout.
Here’s what I’m seeing:
Open interest was still 1.315 billion contracts at 19:15, but by 19:45 it had reached 1.953 billion—up nearly 50% in half an hour. The value of open interest rose from 2.24 million U to 3.59 million U.
At the same time, the percentage of accounts that were long fell from 58% to 56%, while the estimated funding rate plunged to -0.31%.
Price is moving up, but most of the new money coming in is opening shorts. Short sellers also have to pay funding to longs every 4 hours. I’ve seen this kind of setup plenty of times: the more crowded the shorts get, the more they look like fuel for the next leg up.
The key levels are clear: 0.001903 is today’s high. A high-volume break above it would trigger the second leg of a short squeeze. 0.001788 is the line to defend—get out if it breaks below that.
That’s where the disagreement lies: do you think these shorts are smart money getting in early, or are they just giving longs fuel? Share your reasoning.
#ZIL #山寨币 #FundingRate
Here’s what I’m seeing:
Open interest was still 1.315 billion contracts at 19:15, but by 19:45 it had reached 1.953 billion—up nearly 50% in half an hour. The value of open interest rose from 2.24 million U to 3.59 million U.
At the same time, the percentage of accounts that were long fell from 58% to 56%, while the estimated funding rate plunged to -0.31%.
Price is moving up, but most of the new money coming in is opening shorts. Short sellers also have to pay funding to longs every 4 hours. I’ve seen this kind of setup plenty of times: the more crowded the shorts get, the more they look like fuel for the next leg up.
The key levels are clear: 0.001903 is today’s high. A high-volume break above it would trigger the second leg of a short squeeze. 0.001788 is the line to defend—get out if it breaks below that.
That’s where the disagreement lies: do you think these shorts are smart money getting in early, or are they just giving longs fuel? Share your reasoning.
#ZIL #山寨币 #FundingRate
