$INIT IS UP OVER 100%… BUT I'M NOT RUSHING TO SHORT IT.
Mehn! From around $0.118 to nearly $0.28 in just two candles… that's the kind of move that makes traders lose their patience.
But something else caught my attention…
There's a reported spot-futures price gap and funding has dropped to -1.38%.
My bias is bearish here, but there's a dangerous catch…
If futures sellers keep dominating, the downside could continue. But if spot buyers absorb that selling while shorts pile in, we could get a nasty short squeeze instead.
Imagine getting the direction right but entering too early and getting liquidated before the move even starts.
I'm staying on the sidelines until the market gives a clearer signal.
Would you take the short, bet on a squeeze, or simply stay away?
#INIT #HotCPIDecemberHikePriced
Mehn! From around $0.118 to nearly $0.28 in just two candles… that's the kind of move that makes traders lose their patience.
But something else caught my attention…
There's a reported spot-futures price gap and funding has dropped to -1.38%.
My bias is bearish here, but there's a dangerous catch…
If futures sellers keep dominating, the downside could continue. But if spot buyers absorb that selling while shorts pile in, we could get a nasty short squeeze instead.
Imagine getting the direction right but entering too early and getting liquidated before the move even starts.
I'm staying on the sidelines until the market gives a clearer signal.
Would you take the short, bet on a squeeze, or simply stay away?
#INIT #HotCPIDecemberHikePriced
