95.56 million U traded in one hour. $INIT fell from 0.29962 to 0.24897, down 15.3%. It was just one step away from the overnight high of 0.30298, then turned around.
This wasn’t a pullback—it was a failed push higher. The 13:15 fifteen-minute candle reached a high of 0.29814 and closed at 0.26832, with 25.89 million U in volume; the aggressive buy/sell ratio on the 13:25 five-minute candle was only 0.89, as 10.23 million U was dumped. Over the same period, open interest rose from 65.92 million contracts at 13:00 to 77.86 million at 13:25. Price went down while positions increased—that’s someone dumping, not closing out. The share of long accounts fell from 50.7% at 11:00 to 43.0% at 13:50; even while prices were rising, positions were already shifting toward the short side.
The current price is around 0.240, and the 14:15 low hit 0.23438. The funding rate settled at -1.67% at 14:00. Shorts got even more crowded, and price turned back before breaking the high. I see this as distribution. Resistance is between 0.255 and 0.268; if it gets above 0.268, I’m out. The next stop is 0.220, then this morning’s low of 0.1832.
Do you see this move as distribution or a shakeout to accumulate? Share your reasoning.
$INIT
#INIT #高位出货 #合约 #UnusualMove
This wasn’t a pullback—it was a failed push higher. The 13:15 fifteen-minute candle reached a high of 0.29814 and closed at 0.26832, with 25.89 million U in volume; the aggressive buy/sell ratio on the 13:25 five-minute candle was only 0.89, as 10.23 million U was dumped. Over the same period, open interest rose from 65.92 million contracts at 13:00 to 77.86 million at 13:25. Price went down while positions increased—that’s someone dumping, not closing out. The share of long accounts fell from 50.7% at 11:00 to 43.0% at 13:50; even while prices were rising, positions were already shifting toward the short side.
The current price is around 0.240, and the 14:15 low hit 0.23438. The funding rate settled at -1.67% at 14:00. Shorts got even more crowded, and price turned back before breaking the high. I see this as distribution. Resistance is between 0.255 and 0.268; if it gets above 0.268, I’m out. The next stop is 0.220, then this morning’s low of 0.1832.
Do you see this move as distribution or a shakeout to accumulate? Share your reasoning.
$INIT
#INIT #高位出货 #合约 #UnusualMove
