$BTW This drop isn’t that fierce, but the structure is pretty interesting—price broke below the lower edge of the near-20 5m range, volume expanded to 1.61x, and the aggressive buy/sell ratio is 0.53, with sell pressure in control.
The key is OI: 15m -0.01%, 1h -0.03%, with a nominal reduction of 2.26M. When price falls and OI declines, it’s a typical sign of long liquidation/deleveraging and stop-outs. This isn’t new short entry—it’s the old longs getting cut.
It’s at the 84.3rd percentile, the whole pool #8. In the last 24h, volume is 38M; liquidity is sufficient, but the direction is bearish. Under this kind of structure, any rebound may be an opportunity to reduce positions, not a bottom-fishing signal.
Focus on observation and wait for OI to stabilize before reassessing.
The key is OI: 15m -0.01%, 1h -0.03%, with a nominal reduction of 2.26M. When price falls and OI declines, it’s a typical sign of long liquidation/deleveraging and stop-outs. This isn’t new short entry—it’s the old longs getting cut.
It’s at the 84.3rd percentile, the whole pool #8. In the last 24h, volume is 38M; liquidity is sufficient, but the direction is bearish. Under this kind of structure, any rebound may be an opportunity to reduce positions, not a bottom-fishing signal.
Focus on observation and wait for OI to stabilize before reassessing.