$OP Price drops -5.81% accompanied by a trading volume of 70 million, with open interest reaching 86 million, showing a pattern of increasing volume and high open interest. Market logic suggests that open interest should be considered to determine whether it’s a long liquidation or main force distribution. The current market trend leans towards a bearish dominance, with risks outweighing opportunities.
🎯Direction: No position
Waiting for price action to provide clear signals of bullish absorption or bearish exhaustion. It is not advisable to trade against the trend at this time to avoid potential long liquidation chain reactions.
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$OP Price drops -5.81% accompanied by a trading volume of 70 million, with open interest reaching 86 million, showing a pattern of increasing volume and high open interest. Market logic suggests that open interest should be considered to determine whether it’s a long liquidation or main force distribution. The current market trend leans towards a bearish dominance, with risks outweighing opportunities.
🎯Direction: No position
Waiting for price action to provide clear signals of bullish absorption or bearish exhaustion. It is not advisable to trade against the trend at this time to avoid potential long liquidation chain reactions.