This $GRAM candle is no longer the same story as the version I wrote down a few hours ago.
I've changed my mind.
Over 24 hours, it’s up 10.465%. The price is 1.14, having peaked at 1.162.
Earlier, I wrote that rising prices alongside falling open interest could only be short covering.
Today, open interest is back: contract count rose 14.394% in a day, and notional value rose 25.747%. This is new money coming in, not short covering. This is support.
To be honest, open interest has also been rising over the past four days: contract count is up 17.632%, and notional value is up 22.129%.
It’s like the people at the warehouse entrance haven’t left—they’re still moving goods inside.
As for its position, it’s now only at 40.650% of the way through the 1.359-to-0.99 range.
Below the midpoint.
It’s still down 2.979% over seven days, so the drop hasn’t been fully made up. At the end of the day, this intraday rebound is just a move within the range.
The funding rate is only 0.005%. Long accounts are at 54.91%, and large traders are at 60.45%. Yesterday, long accounts were only at 51.40%.
Positions are changing hands, and the disagreement hasn’t gone away. The market has only just been refilled, so I won’t chase the price higher.
How much room is left above 1.162?
My approach is to keep watching and wait for it to establish itself before making a call.
I’m also keeping an eye on the direction of $BTC and $ETH .
What do you all think? Let’s talk in the comments.
#比特币 #以太坊 #Cryptocurrency
The above is a record of my personal trading system and data observations, and does not constitute investment advice.
I've changed my mind.
Over 24 hours, it’s up 10.465%. The price is 1.14, having peaked at 1.162.
Earlier, I wrote that rising prices alongside falling open interest could only be short covering.
Today, open interest is back: contract count rose 14.394% in a day, and notional value rose 25.747%. This is new money coming in, not short covering. This is support.
To be honest, open interest has also been rising over the past four days: contract count is up 17.632%, and notional value is up 22.129%.
It’s like the people at the warehouse entrance haven’t left—they’re still moving goods inside.
As for its position, it’s now only at 40.650% of the way through the 1.359-to-0.99 range.
Below the midpoint.
It’s still down 2.979% over seven days, so the drop hasn’t been fully made up. At the end of the day, this intraday rebound is just a move within the range.
The funding rate is only 0.005%. Long accounts are at 54.91%, and large traders are at 60.45%. Yesterday, long accounts were only at 51.40%.
Positions are changing hands, and the disagreement hasn’t gone away. The market has only just been refilled, so I won’t chase the price higher.
How much room is left above 1.162?
My approach is to keep watching and wait for it to establish itself before making a call.
I’m also keeping an eye on the direction of $BTC and $ETH .
What do you all think? Let’s talk in the comments.
#比特币 #以太坊 #Cryptocurrency
The above is a record of my personal trading system and data observations, and does not constitute investment advice.
