PENDLE, this wave is going down pretty decisively.
On the 15m chart, it’s down 0.73%, with volume hitting 1.63x, Z value at 1.75. It directly breaks below the lower band of the past 20 5m candles. The aggressive trade imbalance is -29.8%, buy/sell ratio is 0.54, and sell pressure is clearly dominant.
The key is that OI is dropping in sync—on the 15m contract -0.22%, on the 1h -0.64%, with notional down about 450k U in total. This doesn’t look like brand-new shorts entering; it’s more like longs are deleveraging—stopping out or passively shrinking positions. The abnormal percentile is 82.1%, ranking #29 in the whole pool, and the notional change ranks #32.
Over the last 24h, turnover is 27.9M, and the order-book depth confirms enough. With this kind of structure, it usually doesn’t V-reverse immediately. First, we’ll see whether the bearish momentum can stabilize.
On the 15m chart, it’s down 0.73%, with volume hitting 1.63x, Z value at 1.75. It directly breaks below the lower band of the past 20 5m candles. The aggressive trade imbalance is -29.8%, buy/sell ratio is 0.54, and sell pressure is clearly dominant.
The key is that OI is dropping in sync—on the 15m contract -0.22%, on the 1h -0.64%, with notional down about 450k U in total. This doesn’t look like brand-new shorts entering; it’s more like longs are deleveraging—stopping out or passively shrinking positions. The abnormal percentile is 82.1%, ranking #29 in the whole pool, and the notional change ranks #32.
Over the last 24h, turnover is 27.9M, and the order-book depth confirms enough. With this kind of structure, it usually doesn’t V-reverse immediately. First, we’ll see whether the bearish momentum can stabilize.