Bitcoin's doing nothing today and $NEAR is up 3% anyway, which is the part worth reading. đ§
Yesterday was a leveraged long flush, open interest shrinking while price broke lower, so this bounce is running on cleaner positioning and funding is still flat at +0.006%.
$NEAR sits at 4.504 USDT, pressed against the top of its 24h range. đ
The 7d line still reads -4.72%, so call it a relief bounce inside a down week.
What I'm watching is 4.33 USDT, the range low: hold it and the flush was the reset, lose it and yesterday's sellers get the next word. đ
#NEAR #OpenInterest #RangeTrading
Yesterday was a leveraged long flush, open interest shrinking while price broke lower, so this bounce is running on cleaner positioning and funding is still flat at +0.006%.
$NEAR sits at 4.504 USDT, pressed against the top of its 24h range. đ
The 7d line still reads -4.72%, so call it a relief bounce inside a down week.
What I'm watching is 4.33 USDT, the range low: hold it and the flush was the reset, lose it and yesterday's sellers get the next word. đ
#NEAR #OpenInterest #RangeTrading