Everyone, I’ve been watching $HYPE all morning.
Over 24 hours, it’s down 3.777%, sliding from 75.355 to 70.347 before settling at 72.089.
Over six days, the price ground its way down from 78.568 to 72.089 without a single decent bounce. It’s all been a slow, steady bleed, wearing down everyone’s patience.
It’s sitting at the floor.
The upper and lower bounds of the 20-day range are 97.193 and 70.347. The current price is at the 6.49th percentile, with very little room left to fall.
I’m watching the open interest column.
The contract count is actually up 1.27% for the day, while notional value is down just 2.58%. This doesn’t look like liquidation-driven deleveraging.
It’s like every box of goods is still in the warehouse; someone has just marked the prices down a couple of notches.
The fact that positions are stubbornly staying put at these lows suggests the hands holding them haven’t changed.
Funding rate: 0.005%; long accounts: 60.29%; long-to-short account ratio: 1.5183. All the disagreement is packed into this one spot.
Honestly, I had to look at this level three times before I dared to write anything.
Where’s the support?
If 70.347 breaks, there’s nothing but a vacuum below it.
$BTC and $ETH haven’t given any direction over the past two days, and this one has even less of an idea.
My approach is to pay less attention and wait until it establishes this level again before saying more.
What do you all think? Let’s talk in the comments.
#HYPE #比特币 #Cryptocurrency
The above is a record of my personal trading system and data observations. It does not constitute investment advice.
Over 24 hours, it’s down 3.777%, sliding from 75.355 to 70.347 before settling at 72.089.
Over six days, the price ground its way down from 78.568 to 72.089 without a single decent bounce. It’s all been a slow, steady bleed, wearing down everyone’s patience.
It’s sitting at the floor.
The upper and lower bounds of the 20-day range are 97.193 and 70.347. The current price is at the 6.49th percentile, with very little room left to fall.
I’m watching the open interest column.
The contract count is actually up 1.27% for the day, while notional value is down just 2.58%. This doesn’t look like liquidation-driven deleveraging.
It’s like every box of goods is still in the warehouse; someone has just marked the prices down a couple of notches.
The fact that positions are stubbornly staying put at these lows suggests the hands holding them haven’t changed.
Funding rate: 0.005%; long accounts: 60.29%; long-to-short account ratio: 1.5183. All the disagreement is packed into this one spot.
Honestly, I had to look at this level three times before I dared to write anything.
Where’s the support?
If 70.347 breaks, there’s nothing but a vacuum below it.
$BTC and $ETH haven’t given any direction over the past two days, and this one has even less of an idea.
My approach is to pay less attention and wait until it establishes this level again before saying more.
What do you all think? Let’s talk in the comments.
#HYPE #比特币 #Cryptocurrency
The above is a record of my personal trading system and data observations. It does not constitute investment advice.
