$BTC 68 860 down 4.3% over the day, and open interest has started to fall: −2.6% in 24 hours.
What I see: in the morning, leverage was being added right into the drop; now positions are closing. But there are still 3.1 long accounts for every short. On the liquidation map, shorts are most concentrated around 70,100, and longs around 67,400, just below the daily low.
What I think: leverage is coming out, but the crowd is still long. Odds of a touch within 24 hours: 70,100 around 47%, 67,400 around 39%.
What would change my view: an hourly close above 70,100 with rising open interest.
$JTO caught up with the market by evening: 0.3075, −3.5% over the day.
Not financial advice.
Which level comes first: 70,100 or 67,400?
#btc #криптовалюта #биткоин
What I see: in the morning, leverage was being added right into the drop; now positions are closing. But there are still 3.1 long accounts for every short. On the liquidation map, shorts are most concentrated around 70,100, and longs around 67,400, just below the daily low.
What I think: leverage is coming out, but the crowd is still long. Odds of a touch within 24 hours: 70,100 around 47%, 67,400 around 39%.
What would change my view: an hourly close above 70,100 with rising open interest.
$JTO caught up with the market by evening: 0.3075, −3.5% over the day.
Not financial advice.
Which level comes first: 70,100 or 67,400?
#btc #криптовалюта #биткоин
