Over the past day, the long/short account ratio for $IDOL rose to 1.129,
while open interest in futures contracts fell 3.35% from this time yesterday. Huh~
The funding rate for this four-hour period was also higher than the previous settlement rate.
I’m going with the explanation that sentiment is heating up while open interest is thinning out, so I’m tentatively bearish; there’s still not enough evidence for the claim that funds are piling in.
Still, open interest has recovered 2.18% from six hours ago. Mm-hmm.
That counterpoint means my bearish take can only be considered a weak read.
If the bulls treat the account ratio as a measure of open interest, I’d call it “winning a vote with a sweet tooth and claiming the candy jar is full again.”
Price levels set my limits:
A break below 0.0291 would be the evidence I need to stick with my bearish view.
A break above 0.0355 would mean I misread the bearish case on this page.
If you had to settle the score, would you count the 3.35% as “exposed false heat,”
or as “a recovery taking shape”?
#IDOL #Open Interest
Data is from Binance’s publicly available market data and does not constitute investment advice.
while open interest in futures contracts fell 3.35% from this time yesterday. Huh~
The funding rate for this four-hour period was also higher than the previous settlement rate.
I’m going with the explanation that sentiment is heating up while open interest is thinning out, so I’m tentatively bearish; there’s still not enough evidence for the claim that funds are piling in.
Still, open interest has recovered 2.18% from six hours ago. Mm-hmm.
That counterpoint means my bearish take can only be considered a weak read.
If the bulls treat the account ratio as a measure of open interest, I’d call it “winning a vote with a sweet tooth and claiming the candy jar is full again.”
Price levels set my limits:
A break below 0.0291 would be the evidence I need to stick with my bearish view.
A break above 0.0355 would mean I misread the bearish case on this page.
If you had to settle the score, would you count the 3.35% as “exposed false heat,”
or as “a recovery taking shape”?
#IDOL #Open Interest
Data is from Binance’s publicly available market data and does not constitute investment advice.
