$TA Price looks like it’s dozing, while open interest keeps creeping up, huh~.
Over the past six hours, the price has fallen 0.26% compared with six hours ago.
Over the same period, open interest has increased 0.81% compared with six hours ago.
From Cathie Wood’s perspective, the technical trend is bullish, and the increase in open interest could give the rally more staying power.
From Burry’s perspective, a weaker price alongside rising open interest makes the bearish concerns even stronger.
I’m leaning bearish: rising open interest under pressure seems more in line with the current market than an accelerating trend.
But the price is still above where it was a week ago, hmm—this counterpoint means I’ll only stay mildly bearish.
Bulls see rising open interest as a sign of strength; I call it “adding more grain to a mill that’s slowing down.”
Now, let’s put my bearish thesis to the test:
If the price breaks below the past day’s low of 0.109, the case for rising open interest under pressure gets stronger.
If it breaks above the same period’s high of 0.122, I should withdraw this bearish thesis—I underestimated its resilience.
Do you see the 0.81% as open interest piling up under pressure,
or as the trend building momentum?
#TA #Candlestick Analysis
Data from Binance public market data; not investment advice.