$NBIS down, target $113. Above $132 I'm wrong.
$NBIS flushed from $164.58 to $119.10 yesterday and still trades at $126.26, down 17.6% on 515M of perp volume. The book is the risk: open interest built 80.9% to 67M, and the long/short account ratio went from 1.60 to 2.42. Leverage-long added into the crash. Break $119.10 and that book gets liquidated toward $113. Close above $132 and I stand down.
Which comes first, $119.10 or $132?
$NBIS flushed from $164.58 to $119.10 yesterday and still trades at $126.26, down 17.6% on 515M of perp volume. The book is the risk: open interest built 80.9% to 67M, and the long/short account ratio went from 1.60 to 2.42. Leverage-long added into the crash. Break $119.10 and that book gets liquidated toward $113. Close above $132 and I stand down.
Which comes first, $119.10 or $132?
