While everyone's eyeing the bounce at $HYPE from $55, I'm more focused on something else.
Open Interest has noticeably dropped over the last few hours. Some positions have closed, and the net flow of derivatives remains negative.
At first glance, this looks bearish.
But when I pulled up the liquidation map, I saw an interesting picture.
Right now, the price is sitting between two major liquidity zones: 🔹 around $60 🔹 around $55
And if we're just looking at liquidity density, the $55 zone still looks like a stronger magnet.
That's why I'm not rushing to open a long after this local bounce.
For me, there are two more logical scenarios here:
• a dip to the $55-56 area and liquidity grab from below; • or a return above $58.5 with confirmation of buyer strength.
Right now, HYPE feels more like a coin that hasn't decided on a direction yet rather than a ready trend move.
So for now, I'm just watching 👀
Trading $HYPE 👇
Open Interest has noticeably dropped over the last few hours. Some positions have closed, and the net flow of derivatives remains negative.
At first glance, this looks bearish.
But when I pulled up the liquidation map, I saw an interesting picture.
Right now, the price is sitting between two major liquidity zones: 🔹 around $60 🔹 around $55
And if we're just looking at liquidity density, the $55 zone still looks like a stronger magnet.
That's why I'm not rushing to open a long after this local bounce.
For me, there are two more logical scenarios here:
• a dip to the $55-56 area and liquidity grab from below; • or a return above $58.5 with confirmation of buyer strength.
Right now, HYPE feels more like a coin that hasn't decided on a direction yet rather than a ready trend move.
So for now, I'm just watching 👀
Trading $HYPE 👇