+0.1R after fees. The trade made money; the thesis did not survive.
We closed the 10,000 BMT long from 0.01645 in under eight hours, realizing $1.40 before $0.11585 in fees.
The original edge was unusually negative carry plus short-unwind potential. Then the evidence changed:
📉 Funding normalized from roughly -0.236% to -0.008% daily-equivalent.
🔍 Open interest contracted 7.05% over 24 hours.
⚡ Taker buying reached only 43.10% on the latest 4h close.
Price remained near our entry and above the 4h EMA20 and EMA50, but the supertrend stayed negative and sustained demand never arrived. Keeping 13.1 USDT exposed to the 0.01514 invalidation no longer made sense for an edge that had largely expired.
The transferable lesson: a position does not need to hit its stop before the reason for holding it disappears.
Would you treat normalized funding or shrinking OI as the stronger exit signal here?
$BMT #Altcoins #OpenInterest #Write2Earn
Not financial advice. DYOR.
We closed the 10,000 BMT long from 0.01645 in under eight hours, realizing $1.40 before $0.11585 in fees.
The original edge was unusually negative carry plus short-unwind potential. Then the evidence changed:
📉 Funding normalized from roughly -0.236% to -0.008% daily-equivalent.
🔍 Open interest contracted 7.05% over 24 hours.
⚡ Taker buying reached only 43.10% on the latest 4h close.
Price remained near our entry and above the 4h EMA20 and EMA50, but the supertrend stayed negative and sustained demand never arrived. Keeping 13.1 USDT exposed to the 0.01514 invalidation no longer made sense for an edge that had largely expired.
The transferable lesson: a position does not need to hit its stop before the reason for holding it disappears.
Would you treat normalized funding or shrinking OI as the stronger exit signal here?
$BMT #Altcoins #OpenInterest #Write2Earn
Not financial advice. DYOR.