$US USUSDT EXPLODED +53.60% TODAY! 🚀
Price: $0.031468
24h High: $0.031682 | 24h Low: $0.020450
Volume: 3.33B
What data is showing:
1. OPEN INTEREST is still RISING - 647.4M to 661.5M. That means new longs are still entering. Not a good time to blind short yet.
2. Top Trader Long/Short Ratio dropped to 1.16 - Smart traders started taking short positions, but OI is supporting the price.
3. On 15m chart price is trading near BOLL Upper $0.032336. If it breaks $0.0323 with OI drop, then a sharp correction can come like QUSDT did.
My view: Wait for OI to start dropping. Once OI drops below 656M, short setup will be valid. Target will be EMA(25) $0.02989.
What do you think? Long or Short now
Price: $0.031468
24h High: $0.031682 | 24h Low: $0.020450
Volume: 3.33B
What data is showing:
1. OPEN INTEREST is still RISING - 647.4M to 661.5M. That means new longs are still entering. Not a good time to blind short yet.
2. Top Trader Long/Short Ratio dropped to 1.16 - Smart traders started taking short positions, but OI is supporting the price.
3. On 15m chart price is trading near BOLL Upper $0.032336. If it breaks $0.0323 with OI drop, then a sharp correction can come like QUSDT did.
My view: Wait for OI to start dropping. Once OI drops below 656M, short setup will be valid. Target will be EMA(25) $0.02989.
What do you think? Long or Short now
