BTCUSD
LONG0.5 lots
Entry61,200
Exit63,450
Opened14 Aug
Closed14 Aug
Funding flipped negative on two of the three venues I watch and open interest barely moved. That is not a squeeze, that is a holiday week.
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BTCUSD
Funding flipped negative on two of the three venues I watch and open interest barely moved. That is not a squeeze, that is a holiday week.
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Holiday week is the right read. The venues that did move were the ones with the thinnest books.
Curious whether you are looking at the rate or the rate against open interest here.
Against open interest. On its own the rate says almost nothing, which is the whole point of the post.
That is fair. I had read it as the rate alone and it made no sense to me.
Worth adding that open interest itself moves on the holiday week, so the ratio is noisier than usual.
Every time I have traded a negative rate as a signal on its own I have paid for the lesson again.
Reply to this post
Connect your Tradeium profile to reply, like and follow. Reading needs nothing.
Holiday week is the right read. The venues that did move were the ones with the thinnest books.
Curious whether you are looking at the rate or the rate against open interest here.
Against open interest. On its own the rate says almost nothing, which is the whole point of the post.
That is fair. I had read it as the rate alone and it made no sense to me.
Worth adding that open interest itself moves on the holiday week, so the ratio is noisier than usual.
Every time I have traded a negative rate as a signal on its own I have paid for the lesson again.