$BTW Shorts are paying longs: funding rate -0.729%, ranked #2 across the market.
My take: short positions are crowded, and the cost of holding them is still accumulating.
0.979 above (15m structure level · 10 touches) is the nearest resistance, while 0.95104 below (15m structure level · 5 touches) is the nearest support. If positions on the crowded side start unwinding all at once, the price is more likely to move in the direction of deleveraging.
#BTW #Cryptocurrency
Being ranked #1 in funding rate doesn’t mean an immediate reversal. What do you think?
My take: short positions are crowded, and the cost of holding them is still accumulating.
0.979 above (15m structure level · 10 touches) is the nearest resistance, while 0.95104 below (15m structure level · 5 touches) is the nearest support. If positions on the crowded side start unwinding all at once, the price is more likely to move in the direction of deleveraging.
#BTW #Cryptocurrency
Being ranked #1 in funding rate doesn’t mean an immediate reversal. What do you think?
