$BLUAI callback is basically baiting the downside; the uptrend is still intact!
In the past 12 hours, 840,000 shorts were taken. Smart money has noticed that the current short position funding is not very high. The main players are still here, but if they push the price higher again, for the dealer/market maker it no longer offers a sufficiently high cost-performance ratio!
Right now the funding rate is not proportional. The bearish sentiment inside the market is strong, and the hourly chart also clearly shows overhead selling pressure. From the market maker’s perspective, whether the current selling of chips is described as baiting the downside or distributing, it’s what they need to do to execute the layout!
Even if it continues to rise, the pullback still can wash out不坚定（hesitant/uncertain）long positions, setting up the ground for the subsequent pump. So, the current trend is bearish! #韩国最高法院拟允许冻结加密资产 $BMT
In the past 12 hours, 840,000 shorts were taken. Smart money has noticed that the current short position funding is not very high. The main players are still here, but if they push the price higher again, for the dealer/market maker it no longer offers a sufficiently high cost-performance ratio!
Right now the funding rate is not proportional. The bearish sentiment inside the market is strong, and the hourly chart also clearly shows overhead selling pressure. From the market maker’s perspective, whether the current selling of chips is described as baiting the downside or distributing, it’s what they need to do to execute the layout!
Even if it continues to rise, the pullback still can wash out不坚定（hesitant/uncertain）long positions, setting up the ground for the subsequent pump. So, the current trend is bearish! #韩国最高法院拟允许冻结加密资产 $BMT