Bitcoin / TetherUSDiupdate Bitcoin | Open Interest & Stop Levels
View of some data that represents open interest and futures positional data.
Labels describe what each indicator is showing.
Don't want to ramble on, as I dont normally use these indicators and wont put my full judgement on them.
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Open Interest is currently showing quite a few longs opening up and shorts closing.
Generally, shorts closing means people are taking profit at this range bottom. When shorts close, that means there are buy orders now entering to repay the borrowed short. This can be seen as bullish, especially when there is also a large number of longs entering at the same time.
OB Heat Map currently shows on every exchange strong buy walls at 20k, along with many front runners.
I also see a potential range forming.
Liquidation levels are also shown on this chart. Take it with a grain of salt.
Conclusion:
I think we bounce very soon. More specifically somewhere at and around 20k.
Labels describe what each indicator is showing.
Don't want to ramble on, as I dont normally use these indicators and wont put my full judgement on them.
------------------------------------------------------
Open Interest is currently showing quite a few longs opening up and shorts closing.
Generally, shorts closing means people are taking profit at this range bottom. When shorts close, that means there are buy orders now entering to repay the borrowed short. This can be seen as bullish, especially when there is also a large number of longs entering at the same time.
OB Heat Map currently shows on every exchange strong buy walls at 20k, along with many front runners.
I also see a potential range forming.
Liquidation levels are also shown on this chart. Take it with a grain of salt.
Conclusion:
I think we bounce very soon. More specifically somewhere at and around 20k.
Catatan
Price fell deeper than expected. Luckily the spirit of all degens woke me up intime to witness this candle.This rapid movement in price has triggered a huge price inefficiency. I think it will be filled quicker than previous dumps. Lets see though!
Catatan
As it stands, seems the orders with most liquidity left to liquidate are the late shorts.
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