perpvista
ENDE

Every word, in plain words.

Each entry has three sentences: what it is, how to read it, and what it does not say.

Basics

Perpetual (perp)

A perpetual is a contract that lets you bet on a coin's price without owning the coin, and it never expires. Its price follows the normal market price closely, and funding keeps it there. Trading a perp does not give you the coin itself, only the price movement.

Long

A long is a position that gains when the price goes up. Going long means buying now and hoping to sell higher later. Many longs in the market show what traders hope for, not what the price will do.

Short

A short is a position that gains when the price goes down. Going short means selling now and hoping to buy back cheaper later. Many shorts in the market show what traders fear, not what the price will do.

Leverage

Leverage lets you open a position bigger than the money you put in. At 10x, 100 dollars controls a 1,000 dollar position, so every price move hits you ten times as hard. Leverage does not make a trade more likely to win, it only makes wins and losses bigger.

Margin

Margin is the money you put down to open and keep a position with leverage. When the price moves against you, your margin shrinks, and when it runs too low the position is liquidated. Margin is not a fixed maximum loss if you keep adding more to save a position.

Liquidation

A liquidation is when the exchange closes a position by force because its margin is used up. A liquidated long gets sold and a liquidated short gets bought, at whatever price the market gives. One liquidation tells you about one trader's position, not about where the market goes.

Taker

A taker is a trader who buys or sells right away at the best price on offer. Takers are the impatient side of the market, and their orders are what move the price. A taker buy is not a smarter buy, just a faster one.

Maker

A maker is a trader who places an order at a set price and waits for someone to fill it. Makers fill the order book, and takers trade against them. A big maker order can be pulled at any time, so it is a wish, not a wall.

Spot price

The spot price is what the coin itself costs right now, if you buy it outright. Perp prices stay close to it, and a gap between the two shows up as funding. Spot and perp prices are almost the same, so the small difference is rarely worth watching on its own.

Candle

A candle shows how the price moved in one stretch of time, for example one hour. The thick part runs from the first to the last price, green if it ended higher and red if lower, and the thin lines show the highest and lowest price. A single candle shows what happened, not what happens next.

Timeframe

The timeframe is how much time one candle covers, for example 15 minutes, 1 hour or 4 hours. Short timeframes show the last few hours in detail, long ones show the bigger picture. Two timeframes can disagree, and neither one is the true one.

EMA

An EMA is a line showing the average price of the last few candles, with recent candles counting more. PerpVista uses the EMA 20, 50 and 200: the 20 follows the price quickly, the 200 slowly. An EMA is drawn from past prices, so it always lags and never leads.

The market reading

The overall reading

The overall reading sums up one coin in one word: strongly rising, rising, neutral, falling or strongly falling. It weighs trend most, then CVD, open interest and momentum, and liquidations a little. It describes the data right now, it is not a forecast and not a signal to trade.

Trend

Trend says which way the price has been moving, based on where it sits against its EMA 20, 50 and 200. Price above the EMAs means an uptrend, below means a downtrend, and in between means no clear trend. A trend describes the past move, it does not promise the move goes on.

What it can say: Strong uptrend · Uptrend · Neutral · Downtrend · Strong downtrend

Momentum (RSI)

Momentum shows how strong the recent up moves were compared with the down moves, as the RSI, a number from 0 to 100. Above 60 buyers have the upper hand, below 40 sellers do, and above 70 or below 30 the move is stretched. A stretched move is not a turning point, strong trends can stay above 70 or below 30 for a long time.

What it can say: Overbought · Upward momentum · Neutral · Downward momentum · Oversold

Funding

Funding is a small fee that longs and shorts pay each other every few hours, so the perp price stays close to the spot price. Positive means longs pay shorts, so more traders want to be long; negative means shorts pay longs. It shows which side is crowded, not which side is right.

What it can say: Crowded longs · Longs paying · Balanced · Shorts paying · Crowded shorts

Long / short

Long / short shows what share of trader accounts are long right now. 55 % long means slightly more accounts are long, 70 % or more means the long side is crowded. It counts accounts, not dollars, so a few large shorts can outweigh many small longs.

What it can say: Crowded longs · More longs · Balanced · More shorts · Crowded shorts

Open interest

Open interest is how many positions are open right now, in dollars. Rising means new positions are opening, falling means positions are being closed. Every position has a buyer and a seller, so it does not say whether longs or shorts are ahead, and rising does not mean the price will go up.

What it can say: Flat · Longs opening · Shorts opening · Short covering · Longs closing

CVD

CVD adds up market buys minus market sells. Rising means buyers push harder, falling means sellers do; the reading shows the share of buying in the last hour. It only counts takers, so patient buyers and sellers waiting in the order book do not show up in it.

What it can say: Heavy buying · More buying · Balanced · More selling · Heavy selling

Liquidations

Liquidations show how many dollars of positions were closed by force in the last hour, split into longs and shorts, counted from when you opened the page. Mostly long liquidations mean a drop forced longs out, mostly short liquidations mean a rise forced shorts out. They show who just lost, not who wins next.

What it can say: Collecting · Quiet · Longs flushed · Shorts squeezed · Mixed

Volatility (ATR)

Volatility shows how far the price swings within one candle, measured as the ATR, the average distance from high to low. The reading compares the current ATR with its usual level: well above means big candles, well below means small ones. Volatility says how much the price moves, not in which direction.

What it can say: High volatility · Normal volatility · Low volatility

S/R zones

S/R zones are price areas where the price turned before: support below, where it stopped falling, and resistance above, where it stopped rising. The reading says whether the price is inside a zone, close to one, or in the open space between them. A zone is a memory of the past, not a floor or ceiling the price has to respect.

What it can say: Testing a zone · At resistance · At support · Between zones

Volume

Volume is how many dollars were traded in one candle. The reading compares the last finished candle with the average of the 20 before it. Volume does not say whether buyers or sellers were in charge, only how busy the market was.

What it can say: High volume · Normal volume · Low volume

What each reading can say

Trend

Strong uptrend

Strong uptrend means the price is above all three EMAs, and they are stacked 20 over 50 over 200. Every part of the trend points up at the same time. A strong uptrend can also be a stretched one, it says nothing about how long it lasts.

Uptrend

Uptrend means the price is above the EMA 50 and the EMA 50 is above the EMA 200, but the price has dipped under the EMA 20. The bigger picture points up, the last few candles less so. A dip under the EMA 20 is not the end of the trend, and not a sign it continues either.

Neutral (trend)

Neutral means the price sits between its EMAs, so there is no clear trend. Buyers and sellers are roughly balanced for now. It does not say which way the price leaves this state.

Downtrend

Downtrend means the price is below the EMA 50 and the EMA 50 is below the EMA 200, but the price has bounced over the EMA 20. The bigger picture points down, the last few candles less so. A bounce over the EMA 20 is not the end of the trend, and not a sign it continues either.

Strong downtrend

Strong downtrend means the price is below all three EMAs, and they are stacked 20 under 50 under 200. Every part of the trend points down at the same time. A strong downtrend can also be a stretched one, it says nothing about how long it lasts.

Momentum (RSI)

Overbought

Overbought means the RSI is 70 or higher. The price has risen fast, buyers have done most of the work, and the move is stretched. Overbought is not a sell signal, prices can stay overbought for a long time.

Upward momentum

Upward momentum means the RSI is between 60 and 70. Buyers have the upper hand, without the move being stretched. It describes the last candles, not the next ones.

Neutral (momentum)

Neutral momentum means the RSI is between 40 and 60. Up and down moves have been about equally strong. Balanced momentum does not mean the market is quiet, prices can still swing both ways.

Downward momentum

Downward momentum means the RSI is between 30 and 40. Sellers have the upper hand, without the move being stretched. It describes the last candles, not the next ones.

Oversold

Oversold means the RSI is 30 or lower. The price has fallen fast, sellers have done most of the work, and the move is stretched. Oversold is not a buy signal, prices can stay oversold for a long time.

Funding

Crowded longs (funding)

Crowded longs means funding is above 0.05 % per 8 hours: longs pay shorts a lot. So many traders want to be long that they accept a clear cost for it. A crowded side can stay crowded, it does not mean the price turns.

Longs paying

Longs paying means funding is positive and above the normal range, so longs pay shorts. There is more demand for longs than for shorts. It shows where demand sits, not whether that side is right.

Balanced (funding)

Balanced means funding is close to zero, so neither side pays much. Demand for longs and shorts is roughly even, and the perp price sits close to the spot price. Balanced is the normal state, it does not mean the market is calm.

Shorts paying

Shorts paying means funding is negative and below the normal range, so shorts pay longs. There is more demand for shorts than for longs. It shows where demand sits, not whether that side is right.

Crowded shorts (funding)

Crowded shorts means funding is below −0.05 % per 8 hours: shorts pay longs a lot. So many traders want to be short that they accept a clear cost for it. A crowded side can stay crowded, it does not mean the price turns.

Long / short

Crowded longs (accounts)

Crowded longs means 70 % or more of accounts are long. Most traders are on the same side and expect the price to rise. Crowds are often but not always wrong, and this alone does not say if or when the price turns.

More longs

More longs means between 55 % and 70 % of accounts are long. Somewhat more traders bet on a rise than on a drop. It counts accounts, not money, so it says little about where the big positions are.

Balanced (accounts)

Balanced means between 45 % and 55 % of accounts are long. Accounts are split about evenly between the two sides. An even split of accounts can still hide a big difference in money.

More shorts

More shorts means between 55 % and 70 % of accounts are short. Somewhat more traders bet on a drop than on a rise. It counts accounts, not money, so it says little about where the big positions are.

Crowded shorts (accounts)

Crowded shorts means 70 % or more of accounts are short. Most traders are on the same side and expect the price to fall. Crowds are often but not always wrong, and this alone does not say if or when the price turns.

Open interest

Flat (open interest)

Flat means open interest barely moved in the last 4 hours, or it moved while the price did not. No clear wave of positions is opening or closing. Flat does not mean nothing is happening, traders can still be swapping positions with each other.

Longs opening

Longs opening means open interest and the price both rose over the last 4 hours. New positions are opening while the price climbs, which points to buyers pushing in. Every new position has a long and a short side, so this is a reading of who pushes, not a head count, and it says nothing about the next move.

Shorts opening

Shorts opening means open interest rose while the price fell over the last 4 hours. New positions are opening while the price drops, which points to sellers pushing in. Every new position has a long and a short side, so this is a reading of who pushes, not a head count, and it says nothing about the next move.

Short covering

Short covering means the price rises while open interest falls, because traders who bet on a drop are closing their bets. Closing a short means buying, so this buying lifts the price even when no new buyers show up. It does not show fresh demand, and the push ends once the shorts are out.

Longs closing

Longs closing means the price falls while open interest falls, because traders who bet on a rise are getting out. Closing a long means selling, so this selling pushes the price down even when no new sellers show up. It does not show fresh selling pressure, and the push ends once the longs are out.

CVD

Heavy buying

Heavy buying means 65 % or more of the last hour's market orders were buys. Impatient buyers clearly dominate and are willing to pay up. Sellers can still be waiting in the order book, so it does not mean the price must keep rising.

More buying

More buying means between 55 % and 65 % of the last hour's market orders were buys. Buyers push a bit harder than sellers. Sellers can still be waiting in the order book, so it does not mean the price must rise.

Balanced (CVD)

Balanced means between 45 % and 55 % of the last hour's market orders were buys. Neither buyers nor sellers dominate. Balanced market orders do not mean the price stands still.

More selling

More selling means between 55 % and 65 % of the last hour's market orders were sells. Sellers push a bit harder than buyers. Buyers can still be waiting in the order book, so it does not mean the price must fall.

Heavy selling

Heavy selling means 65 % or more of the last hour's market orders were sells. Impatient sellers clearly dominate and accept lower prices. Buyers can still be waiting in the order book, so it does not mean the price must keep falling.

Liquidations

Collecting

Collecting means the page was opened less than five minutes ago and no liquidations have come in yet. PerpVista only sees liquidations from the moment you open the page, so it needs a few minutes before the reading means much. Collecting is not the same as quiet, there may well have been liquidations before you arrived.

Quiet (liquidations)

Quiet means no liquidations were seen since you opened the page, looking back at most one hour. Nobody has been forced out of a position recently. Quiet says nothing about how many positions are close to being liquidated.

Longs flushed

Longs flushed means 70 % or more of the last hour's liquidations were longs. A drop forced longs out, and their forced selling made the drop bigger. Once the forced selling is over it no longer pushes, so it says nothing about the next move.

Shorts squeezed

Shorts squeezed means 70 % or more of the last hour's liquidations were shorts. A rise forced shorts out, and their forced buying made the rise bigger. Once the forced buying is over it no longer pushes, so it says nothing about the next move.

Mixed (liquidations)

Mixed means both longs and shorts were liquidated in the last hour, and neither side made up 70 %. The price swung hard enough to hit traders on both sides. Mixed liquidations do not point in a direction.

Volatility (ATR)

High volatility

High volatility means the ATR is at least 1.4 times its average over the last 100 candles. Candles are large and the price can swing far in both directions. High volatility says how much the price moves, not whether it goes up or down.

Normal volatility

Normal volatility means the ATR is close to its average over the last 100 candles. Candles have their usual size for this coin. Normal for a small coin can still be a lot more movement than normal for Bitcoin.

Low volatility

Low volatility means the ATR is at most 0.7 times its average over the last 100 candles. Candles are small and the price moves in small steps. Quiet stretches often end suddenly, and low volatility does not say in which direction.

S/R zones

Testing a zone

Testing a zone means the price is inside a support or resistance zone right now. The price is at a level where it turned before, and traders watch what happens there. Being inside a zone does not say whether the price bounces or breaks through.

At resistance

At resistance means a resistance zone is at most 1 % above the price. The price is close to a level where it stopped rising before. Resistance can break, so being close to it is not a reason to expect a drop.

At support

At support means a support zone is at most 1 % below the price. The price is close to a level where it stopped falling before. Support can break, so being close to it is not a reason to expect a bounce.

Between zones

Between zones means the price is more than 1 % away from the nearest support and resistance. The reading shows how far each one is, so you can see how much room there is. Open space between zones does not mean the price will travel through it.

Volume

High volume

High volume means the last finished candle traded at least 1.8 times the average of the 20 before it. Many traders took part in the current move. High volume does not say which side won, only that many took part.

Normal volume

Normal volume means the last finished candle traded about as much as usual. The market is as busy as it has been over the last 20 candles. Normal volume tells you nothing extra about the move.

Low volume

Low volume means the last finished candle traded half the average of the 20 before it, or less. Few traders took part, so moves have less weight behind them. Low volume is not a warning on its own, quiet hours and weekends often look like this.