Who’s paying: Longs are shouldering the funding fees for $TA . Price down, open interest up—huh?
Over the past six hours, the price fell 1.23% compared with six hours ago.
Over the same period, open interest rose 1.16% compared with six hours ago.
From Cathie Wood’s perspective, it’s still up from a week ago, so the increase in open interest may have more room to run.
From Burry’s perspective, price down and open interest up looks more like mounting pressure.
I’m leaning bearish: technicals are neutral, and mounting pressure seems more credible than strength building.
This rally is counterevidence, so I’ve downgraded my bearish view to a slight bias; the direction of the increase in open interest is also unclear.
Calling the rise in open interest strength is like “refilling the ink in a printer that jams on cardstock.”
My bearish yardstick:
If the bottom of the daily range at 0.114 doesn’t hold, the bearish thesis can continue.
If the top of the range at 0.121 is breached, I misread this one, and the bearish thesis is void.
If you had to label it, would you call it “1.16% piling up pressure”
or “1.16% building momentum”?
#TA #Market Analysis
Data from Binance public market data; not investment advice
Over the past six hours, the price fell 1.23% compared with six hours ago.
Over the same period, open interest rose 1.16% compared with six hours ago.
From Cathie Wood’s perspective, it’s still up from a week ago, so the increase in open interest may have more room to run.
From Burry’s perspective, price down and open interest up looks more like mounting pressure.
I’m leaning bearish: technicals are neutral, and mounting pressure seems more credible than strength building.
This rally is counterevidence, so I’ve downgraded my bearish view to a slight bias; the direction of the increase in open interest is also unclear.
Calling the rise in open interest strength is like “refilling the ink in a printer that jams on cardstock.”
My bearish yardstick:
If the bottom of the daily range at 0.114 doesn’t hold, the bearish thesis can continue.
If the top of the range at 0.121 is breached, I misread this one, and the bearish thesis is void.
If you had to label it, would you call it “1.16% piling up pressure”
or “1.16% building momentum”?
#TA #Market Analysis
Data from Binance public market data; not investment advice
