$DOT is down ~4.3% on Binance futures today, sitting around 1.03 after wicking 1.022. It's basically been a staircase lower since the 1.18 pop a couple days ago, every 4h close a little worse than the last.
The interesting part is positioning. Price is falling but OI went from ~29.8M to ~32.3M DOT over the last day or so, and funding just flipped negative (~-0.011%). ~60% of accounts are long and top traders are ~69% long by position. So new shorts are piling in while a lot of longs are still holding the bag.
NanoTrading Fire chart 4h: thick bid walls right under us at 1.00-1.05, the 1.00 area is dense. Overhead the bright walls are 1.12-1.13 and 1.15-1.17, with POC up near 1.158. Liquidation heatmap has the tightest clusters at 1.00-1.03 below and the big one up at 1.20-1.21.
My read: 1.00 is the make-or-break. Hold it with funding negative and OI rising and this can squeeze back into 1.12-1.15 fast. Lose it and those stacked longs probably get flushed. Keeping an eye on $BTC too 👀
Squeeze from 1.00 or does $DOT lose the round number first?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#DOT #Polkadot #NanoTrading
The interesting part is positioning. Price is falling but OI went from ~29.8M to ~32.3M DOT over the last day or so, and funding just flipped negative (~-0.011%). ~60% of accounts are long and top traders are ~69% long by position. So new shorts are piling in while a lot of longs are still holding the bag.
NanoTrading Fire chart 4h: thick bid walls right under us at 1.00-1.05, the 1.00 area is dense. Overhead the bright walls are 1.12-1.13 and 1.15-1.17, with POC up near 1.158. Liquidation heatmap has the tightest clusters at 1.00-1.03 below and the big one up at 1.20-1.21.
My read: 1.00 is the make-or-break. Hold it with funding negative and OI rising and this can squeeze back into 1.12-1.15 fast. Lose it and those stacked longs probably get flushed. Keeping an eye on $BTC too 👀
Squeeze from 1.00 or does $DOT lose the round number first?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#DOT #Polkadot #NanoTrading