more than 70% of traders are holding short positions on $SNDK, expecting the price to decline. However, the speaker is surprised because the market did not behave as they expected. They are questioning how the price moved the way it did despite so many traders being short.
As a result, the speaker has decided to change their trading strategy. Instead of continuing to bet on the price falling (short), they are now switching to a long position, believing that the price may rise in the future.
In simple terms:
Short = You expect the price to go down.
Long = You expect the price to go up.
The speaker believes that if most traders are already short, the market could move in the opposite direction, so they are changing their position from short to long.
@Nexus Live @Binance Academy
#$SNDKB
As a result, the speaker has decided to change their trading strategy. Instead of continuing to bet on the price falling (short), they are now switching to a long position, believing that the price may rise in the future.
In simple terms:
Short = You expect the price to go down.
Long = You expect the price to go up.
The speaker believes that if most traders are already short, the market could move in the opposite direction, so they are changing their position from short to long.
@Nexus Live @Binance Academy
#$SNDKB