$ELSA is up 59% in 24h, funding +0.074% per 4h, open interest up 134% in 24h. Long/short accounts sit at 1.12, down from 2.43, so shorts are gone and the new longs are paying. That is the crowded end of a move, not the strong end. It ran 0.065 to 0.114 in one session.
I fade it: target $0.088. A close above $0.115 and I'm wrong.
Which comes first, $0.115 or $0.088?
I fade it: target $0.088. A close above $0.115 and I'm wrong.
Which comes first, $0.115 or $0.088?
