LIT is up 13.6% today, moving with BR as the DeFi sector runs together.
LIT trades at $4.87. Open interest rose 13% over the past 24 hours with no news behind the move, and the 30 day range on this one runs from $2.26 to $5.32.
Rising open interest on a move like this usually means fresh positions opening rather than shorts covering. If LIT pushes up toward its 30 day high near $5.32 and holds above it, that would mark a new high for the period. If it fails there and turns back down, the move would likely get read as a sector pop rather than a lasting shift in DeFi demand.
What would make this wrong: If open interest starts falling while price is still elevated, the rally was mostly positioning that is now unwinding, not real new demand.
Did you catch the DeFi move in LIT and BR today, or miss it entirely?
The sizing images: a $10,000 demo account at 1% risk, long and short with the same stop, one typical daily move away. Both sides, because this is not a call.
And two alerts on the demo account, one above today's high and one below today's low, instead of guessing which way it breaks.
Not advice.
Size a trade on LIT before you take one: creviacockpit.com/n/24513
Follow for the levels that matter, every day.
$LIT
#TradingPsychology #Crypto #CreviaCockpit | creviacockpit.com/lessons?s=square
LIT trades at $4.87. Open interest rose 13% over the past 24 hours with no news behind the move, and the 30 day range on this one runs from $2.26 to $5.32.
Rising open interest on a move like this usually means fresh positions opening rather than shorts covering. If LIT pushes up toward its 30 day high near $5.32 and holds above it, that would mark a new high for the period. If it fails there and turns back down, the move would likely get read as a sector pop rather than a lasting shift in DeFi demand.
What would make this wrong: If open interest starts falling while price is still elevated, the rally was mostly positioning that is now unwinding, not real new demand.
Did you catch the DeFi move in LIT and BR today, or miss it entirely?
The sizing images: a $10,000 demo account at 1% risk, long and short with the same stop, one typical daily move away. Both sides, because this is not a call.
And two alerts on the demo account, one above today's high and one below today's low, instead of guessing which way it breaks.
Not advice.
Size a trade on LIT before you take one: creviacockpit.com/n/24513
Follow for the levels that matter, every day.
$LIT
#TradingPsychology #Crypto #CreviaCockpit | creviacockpit.com/lessons?s=square
