GIGGLE is around 32u now. I surged to 36.8 yesterday, but today it was pushed back down. From the highs, it has already retraced more than 10%. I won’t chase from this level.
First, look at the funding flow: in the last ~3 hours, there hasn’t been a single red candle on the spot large orders. All 12 candles are net outflows. The big players’ long position ratio is still around 70%, but within those 7 hours they cut more than 10%—clearly reducing positions. In this upswing, real cash and assets are actually flowing out.
The chart also confirms it: during the rebound, the trading volume is only about half of usual. The MACD is still in a dead cross, and on the 1-hour timeframe the direction is pointing downward. Futures open interest is not decreasing—if anything, it’s increasing. But the share of aggressive buy orders has fallen to below half. The ones coming in look more like they’re taking knives (catching the fall), not lifting the ride (not actively pushing higher).
That said, it’s not purely bearish. In the past 15 minutes, spot large orders have turned positive. Aggressive buying is more than twice the value of selling, and in the order book, buy orders are pressing against sell orders. This suggests that at the 32 level, someone is willing to take it. It’s just that the volume is too small to allow fresh capital to re-enter.
So my stance is to wait and watch. I won’t go long—there’s no volume, and the rebound isn’t a great value. I also won’t rush to short—once oversold, with someone already picking up, it may not necessarily move down smoothly. The key is whether 32 can hold: once it’s supported and shows volume, then we’ll reassess; but if it breaks below the previous low at 29.68, that’s when things are truly worth being careful about.
#giggle $GIGGLE
First, look at the funding flow: in the last ~3 hours, there hasn’t been a single red candle on the spot large orders. All 12 candles are net outflows. The big players’ long position ratio is still around 70%, but within those 7 hours they cut more than 10%—clearly reducing positions. In this upswing, real cash and assets are actually flowing out.
The chart also confirms it: during the rebound, the trading volume is only about half of usual. The MACD is still in a dead cross, and on the 1-hour timeframe the direction is pointing downward. Futures open interest is not decreasing—if anything, it’s increasing. But the share of aggressive buy orders has fallen to below half. The ones coming in look more like they’re taking knives (catching the fall), not lifting the ride (not actively pushing higher).
That said, it’s not purely bearish. In the past 15 minutes, spot large orders have turned positive. Aggressive buying is more than twice the value of selling, and in the order book, buy orders are pressing against sell orders. This suggests that at the 32 level, someone is willing to take it. It’s just that the volume is too small to allow fresh capital to re-enter.
So my stance is to wait and watch. I won’t go long—there’s no volume, and the rebound isn’t a great value. I also won’t rush to short—once oversold, with someone already picking up, it may not necessarily move down smoothly. The key is whether 32 can hold: once it’s supported and shows volume, then we’ll reassess; but if it breaks below the previous low at 29.68, that’s when things are truly worth being careful about.
#giggle $GIGGLE