$XAG 63.8, and then I touched 65.2 at the door and it retreated again—the script really hasn’t changed at all.
It still looked like it was rising by more than two points on the 24-hour chart, but on the 4-hour it had already turned green, and the price had dropped to below the 20-line. It’s really not moving up—can’t climb.
The push to 65.3 during the day was basically offering a way out to the people above.
What’s even more troublesome is inside the book. Positions piled up by nearly 40% in a single day. The big players’ long positions added another third-plus within seven hours—contracts are getting stacked and crowded. Even though buy orders are being placed aggressively to press the sell side, the price just can’t hold up.
Funding rates are still negative. A lot of people are holding long positions and waiting for it to rise—but it doesn’t. In a long pile-up like this, if the funding can’t keep up, volatility will be amplified.
I won’t chase this setup. I’ll wait until it breaks back out in a clear direction. With longs squeezed like this, if it really rallies, it’ll just be lifting the sedan for the people in front.
#xag $XAG
It still looked like it was rising by more than two points on the 24-hour chart, but on the 4-hour it had already turned green, and the price had dropped to below the 20-line. It’s really not moving up—can’t climb.
The push to 65.3 during the day was basically offering a way out to the people above.
What’s even more troublesome is inside the book. Positions piled up by nearly 40% in a single day. The big players’ long positions added another third-plus within seven hours—contracts are getting stacked and crowded. Even though buy orders are being placed aggressively to press the sell side, the price just can’t hold up.
Funding rates are still negative. A lot of people are holding long positions and waiting for it to rise—but it doesn’t. In a long pile-up like this, if the funding can’t keep up, volatility will be amplified.
I won’t chase this setup. I’ll wait until it breaks back out in a clear direction. With longs squeezed like this, if it really rallies, it’ll just be lifting the sedan for the people in front.
#xag $XAG