SAMSUNG 178’s done it again—it bounced back up.
Last time it was said 165 was done and it pulled up to 176. Last time it was said 176 was done and it pulled up again to 178. I called out twice and it was the opposite of what happened. This market is basically watching my tiny position, isn’t it.
Now at 178, it’s just one tick away from the 24h high of 178.63. Open interest fell 15% in a day. As price rises, positions shrink; money is constantly flowing out. Whale accounts are down 26% too—when things were rising, the big players were unloading.
In the order book, there are 560 buy orders, while sell orders are stacked at 2200. The buy side is less than a quarter of the sell side. Not many people are willing to catch at this level.
Funding rate is 0.125%, which is five times higher than the average of the eighth period. Holding long positions isn’t cheap.
I don’t get it. It’s bounced three times, and every time it bounces up, the money keeps running. So this rally—who is it really for.
At this level, I won’t chase. It’s not necessarily saying it must drop, but the buy side is too thin, and capital is withdrawing. To push higher, you’ll need even more money to keep it going. I’ll wait for a pullback and see whether anyone steps in.
#samsung $SAMSUNG
Last time it was said 165 was done and it pulled up to 176. Last time it was said 176 was done and it pulled up again to 178. I called out twice and it was the opposite of what happened. This market is basically watching my tiny position, isn’t it.
Now at 178, it’s just one tick away from the 24h high of 178.63. Open interest fell 15% in a day. As price rises, positions shrink; money is constantly flowing out. Whale accounts are down 26% too—when things were rising, the big players were unloading.
In the order book, there are 560 buy orders, while sell orders are stacked at 2200. The buy side is less than a quarter of the sell side. Not many people are willing to catch at this level.
Funding rate is 0.125%, which is five times higher than the average of the eighth period. Holding long positions isn’t cheap.
I don’t get it. It’s bounced three times, and every time it bounces up, the money keeps running. So this rally—who is it really for.
At this level, I won’t chase. It’s not necessarily saying it must drop, but the buy side is too thin, and capital is withdrawing. To push higher, you’ll need even more money to keep it going. I’ll wait for a pullback and see whether anyone steps in.
#samsung $SAMSUNG