$BTW Funding rate: -0.314%, the lowest across the entire market. Money is flowing from shorts to longs.
What the chart is telling us: Short positions are crowded, and the cost of holding them is still accumulating.
Nearest support below: 1.0923 (15m structure level · 23 touches); nearest resistance above: 1.1445 (15m structure level · 45 touches). If positions on the crowded side start to unwind, price is more likely to move in the direction of deleveraging.
#BTW #Cryptocurrency
With funding rates this extreme, would you wait for them to come back down, or keep watching?
What the chart is telling us: Short positions are crowded, and the cost of holding them is still accumulating.
Nearest support below: 1.0923 (15m structure level · 23 touches); nearest resistance above: 1.1445 (15m structure level · 45 touches). If positions on the crowded side start to unwind, price is more likely to move in the direction of deleveraging.
#BTW #Cryptocurrency
With funding rates this extreme, would you wait for them to come back down, or keep watching?
