🐻
$ID is in a solid bullish run, but seems like it's pulling back a bit from that overbought territory.
Volume-wise, the latest candles are telling: volumes dropping on those upside pushes, like from 32M down to 15M, which screams fading bull energy to me.
On capital flows, you've got hefty net inflows on contracts over 24h (around 814k), but spot side's seeing outflows (-400k in the last hour). Kinda shows leveraged players pushing longs hard, while spot traders are getting skittish and selling off.
My take: Leaning cautious short
$ID for an expected bearish dip.
For entries: Jump in right away at 0.0728-0.0732 if it tests the upper Bollinger band, or wait for a clean break under 0.0718 to confirm the rejection.
Stop loss at 0.0745 – that's about 3.5% risk from the 0.0728 entry point.
Targetsv
$ID : First one at 0.0698 (S1 support, roughly 4.2% gain), then maybe push to 0.0683 (around the 20MA and Bollinger mid, for about 6.2%).
Reasoning? The overall trend's still bull-friendly, but with RSI over 74, Bollinger %B way above 0.98, negative funding, and that volume drop-off, a correction feels pretty likely. That support area from 0.0698 to 0.0683 looks like a sweet spot for short-term plays with good risk-reward.
Anyone spotting the same?
#ID #idusdt #SpaceID