UNI is currently around 3.54, and I just got pushed back up a bit from the low at 3.45. I won’t rush to enter here.
The biggest bearish evidence is in the spot market funds: net outflows from the 3-hour large orders are close to 9 million, and across 12 candlesticks there hasn’t been a single positive inflow. The main force hasn’t put in even one cent—sellers have been keeping the pressure on.
Technically, everything is also moving in line with the bears—MACD is still below the signal line, the moving averages have a dead cross, and price is grinding lower while sticking to the short moving average. In the 4-hour chart, it’s already dropped by about 10 points.
But what’s interesting is that the futures market and the whales are calling the tune the opposite way. When the spot market is being smashed, futures open interest is shrinking—this is a pattern consistent with panic capitulation; meanwhile, the whale accounts’ long positions are actually being increased all the way up, and their share is already more than 70%, going against retail traders.
So right now bulls and bears are fighting: spot is still flowing out and the trend hasn’t reversed, but at the low end there are whales picking it up, and the futures side can’t push it down anymore. This is a spot where both sides feel uncomfortable.
My choice is to stay on the sidelines. I won’t chase the short (low level + whales going long), and I also won’t rush to buy long (spot hasn’t turned back to inflow, and direction hasn’t been confirmed). I’ll wait for a fund inflow to return or for it to regain the moving average with volume.
#uni $UNI
The biggest bearish evidence is in the spot market funds: net outflows from the 3-hour large orders are close to 9 million, and across 12 candlesticks there hasn’t been a single positive inflow. The main force hasn’t put in even one cent—sellers have been keeping the pressure on.
Technically, everything is also moving in line with the bears—MACD is still below the signal line, the moving averages have a dead cross, and price is grinding lower while sticking to the short moving average. In the 4-hour chart, it’s already dropped by about 10 points.
But what’s interesting is that the futures market and the whales are calling the tune the opposite way. When the spot market is being smashed, futures open interest is shrinking—this is a pattern consistent with panic capitulation; meanwhile, the whale accounts’ long positions are actually being increased all the way up, and their share is already more than 70%, going against retail traders.
So right now bulls and bears are fighting: spot is still flowing out and the trend hasn’t reversed, but at the low end there are whales picking it up, and the futures side can’t push it down anymore. This is a spot where both sides feel uncomfortable.
My choice is to stay on the sidelines. I won’t chase the short (low level + whales going long), and I also won’t rush to buy long (spot hasn’t turned back to inflow, and direction hasn’t been confirmed). I’ll wait for a fund inflow to return or for it to regain the moving average with volume.
#uni $UNI