Everyone, I thought someone would follow through and dump after that 993 wick at $ZEC .
But they didn't.
After going through several sources, here's how I've pieced it together.
On the four-hour chart, the highs and lows of the latest six candles have tightened from 1199.91 to 1002.4. The range keeps narrowing, and there hasn't been a second dip after the wick.
Price is now 1017.6, down 11.830% over 24 hours.
The 20-day range is 1397.58 to 993.02, putting it at the 6.08th percentile.
It's still down in the bottom range.
I'm looking at the leverage column.
Contract count is up 0.42% over the day, while notional value is down 11.71%.
It's like none of the boxes have been moved out of the warehouse, but their listed prices have already been marked down.
That means the value has shrunk, but the positions haven't actually been withdrawn.
With price holding just above 993, neither the bulls nor the bears have let go first.
Funding rate is 0.009791%, long accounts are 55.45%, and the account long/short ratio is 1.2447. The disagreement is still there, unresolved.
Has support shown up?
Honestly, I haven't seen it.
If the 1000.342 level gets tested again, there's truly nothing underneath it.
My approach is to pay less attention and wait until volume and price action settle into a clearer pattern.
The momentum in $BTC and $ETH hasn't settled over the past couple of days either, so this can only follow along.
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 observations of market data; it does not constitute investment advice.
But they didn't.
After going through several sources, here's how I've pieced it together.
On the four-hour chart, the highs and lows of the latest six candles have tightened from 1199.91 to 1002.4. The range keeps narrowing, and there hasn't been a second dip after the wick.
Price is now 1017.6, down 11.830% over 24 hours.
The 20-day range is 1397.58 to 993.02, putting it at the 6.08th percentile.
It's still down in the bottom range.
I'm looking at the leverage column.
Contract count is up 0.42% over the day, while notional value is down 11.71%.
It's like none of the boxes have been moved out of the warehouse, but their listed prices have already been marked down.
That means the value has shrunk, but the positions haven't actually been withdrawn.
With price holding just above 993, neither the bulls nor the bears have let go first.
Funding rate is 0.009791%, long accounts are 55.45%, and the account long/short ratio is 1.2447. The disagreement is still there, unresolved.
Has support shown up?
Honestly, I haven't seen it.
If the 1000.342 level gets tested again, there's truly nothing underneath it.
My approach is to pay less attention and wait until volume and price action settle into a clearer pattern.
The momentum in $BTC and $ETH hasn't settled over the past couple of days either, so this can only follow along.
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 observations of market data; it does not constitute investment advice.
