$BTC printed 79,180 in the 15:30 CET candle, +1.1% in 15 minutes, and ran the short cluster at 79.0k-79.1k.
What I see: that band was the brightest one on the CoinGlass 24h map since 09:00 CET. Open interest is up 0.6% over 6 hours, so new positions joined the move, it was not only shorts closing.
What I think: the short stacks left above are thinner, 79.3k-79.4k and 79.7k-79.9k. The heavy longs sit below at 77.8k and 77.5k.
What changes my mind: an hourly close back under 78.6k. Touch odds to 23:00 CET from pure volatility: 79.8k 43%, 77.8k 12%.
For $JTO: at a 2.1x beta, 79.8k on BTC is roughly 0.361 here, 77.8k is roughly 0.342.
Not financial advice.
79.8k or 78.6k first?
#BTC #Liquidations #CryptoMarket
What I see: that band was the brightest one on the CoinGlass 24h map since 09:00 CET. Open interest is up 0.6% over 6 hours, so new positions joined the move, it was not only shorts closing.
What I think: the short stacks left above are thinner, 79.3k-79.4k and 79.7k-79.9k. The heavy longs sit below at 77.8k and 77.5k.
What changes my mind: an hourly close back under 78.6k. Touch odds to 23:00 CET from pure volatility: 79.8k 43%, 77.8k 12%.
For $JTO: at a 2.1x beta, 79.8k on BTC is roughly 0.361 here, 77.8k is roughly 0.342.
Not financial advice.
79.8k or 78.6k first?
#BTC #Liquidations #CryptoMarket
