MU is now around 877. Last night there was a line that was quite interesting.
In four hours, it was pulled from 881 to 929—one push up of nearly 5%. Then it kept giving back all the way to now, around 877. It rose fast and fell fast; basically it has returned to the start point.
But there are some things hidden in the line.
In the past seven hours, the number of whale accounts surged by 44%. Whales already account for nearly 90% of the total. And these whales’ positions are tilted long—long-side ratio is above 55%, and the long/short ratio exceeds 1.24.
That means, during this upswing and subsequent pullback, big capital has entered the market—and it’s been entering in a mostly long direction.
On the other hand, retail longs are only a little over 45%, which is even lower than the whales.
However, the price structure is still dominated by the shorts—of the six 4-hour candles, five are bearish. The trend hasn’t turned bullish.
So at this moment, I don’t have a clear bias. The fact is that whales are buying; it’s also a fact that selling pressure hasn’t been fully digested yet.
Wait for the price to hold at the low end, or wait for the next wave of capital to choose a direction.
#mu $MU
In four hours, it was pulled from 881 to 929—one push up of nearly 5%. Then it kept giving back all the way to now, around 877. It rose fast and fell fast; basically it has returned to the start point.
But there are some things hidden in the line.
In the past seven hours, the number of whale accounts surged by 44%. Whales already account for nearly 90% of the total. And these whales’ positions are tilted long—long-side ratio is above 55%, and the long/short ratio exceeds 1.24.
That means, during this upswing and subsequent pullback, big capital has entered the market—and it’s been entering in a mostly long direction.
On the other hand, retail longs are only a little over 45%, which is even lower than the whales.
However, the price structure is still dominated by the shorts—of the six 4-hour candles, five are bearish. The trend hasn’t turned bullish.
So at this moment, I don’t have a clear bias. The fact is that whales are buying; it’s also a fact that selling pressure hasn’t been fully digested yet.
Wait for the price to hold at the low end, or wait for the next wave of capital to choose a direction.
#mu $MU