Old dog has been eyeing the semiconductor/AI chain for two weeks, and last night it dumped 5% on $COHR , currently around 358, with a perpetual funding rate of 0.0028 still in the green. While it dropped 5%, the bulls are still paying the bears; I've seen this structure several times before, with bulls holding onto losses and averaging down, with open interest just over 14 million and not really dropping, it's got a heavy crowding smell.

COHR isn't really a leader in the laser and optical communication space; it didn't ride the wave up when NVDA led the charge, but it certainly didn't miss the pullback.

Trading tags: #BinanceFutures #TradFi #USDⓈM #COHR #COHRUSDT $COHR