$CYS Now around 0.766u, I’ve just climbed out of a brutal selloff.
A couple of days ago I touched a new high near 1.84. In just three days it dropped back to 0.61—down about 65%. Today it rallied from the lows back to around 0.76, rebounding roughly 25%. The price action isn’t complicated: after a spike high, there was a big pullback, and the leverage got pretty thoroughly washed out. Open interest was cut by 13% in a single day, and the four-hour chart readout even gave the word “exhausted.”
But with this rebound, I’m in no rush to jump in.
Mainly it comes down to the positioning of funds. In the big players’ holdings, the long-side share has dropped by a bit over 5% over the past seven hours. And the long share across accounts is also lower than that of retail traders. The heavily weighted group is still reducing—no signs of adding. Active buying and selling are basically 50/50, and I haven’t seen any clear return of large spot orders.
Put simply: this is the first reflex rebound after the drop, not a signal that fresh money is moving back in. From 0.8 to 1.8 above, it’s all prior trapped-liquidity zones, and the circulating float is only about 16%. Both trapped positions and supply pressure are still hanging in the air.
So I’ll just watch from here. Chasing longs has mediocre value-for-money, and chasing shorts doesn’t have much profit either—the leverage has already been cleaned out. I’ll wait for a second retest that doesn’t break, or for it to reclaim the level on increased volume—then we can talk about direction.
#cys $CYS
A couple of days ago I touched a new high near 1.84. In just three days it dropped back to 0.61—down about 65%. Today it rallied from the lows back to around 0.76, rebounding roughly 25%. The price action isn’t complicated: after a spike high, there was a big pullback, and the leverage got pretty thoroughly washed out. Open interest was cut by 13% in a single day, and the four-hour chart readout even gave the word “exhausted.”
But with this rebound, I’m in no rush to jump in.
Mainly it comes down to the positioning of funds. In the big players’ holdings, the long-side share has dropped by a bit over 5% over the past seven hours. And the long share across accounts is also lower than that of retail traders. The heavily weighted group is still reducing—no signs of adding. Active buying and selling are basically 50/50, and I haven’t seen any clear return of large spot orders.
Put simply: this is the first reflex rebound after the drop, not a signal that fresh money is moving back in. From 0.8 to 1.8 above, it’s all prior trapped-liquidity zones, and the circulating float is only about 16%. Both trapped positions and supply pressure are still hanging in the air.
So I’ll just watch from here. Chasing longs has mediocre value-for-money, and chasing shorts doesn’t have much profit either—the leverage has already been cleaned out. I’ll wait for a second retest that doesn’t break, or for it to reclaim the level on increased volume—then we can talk about direction.
#cys $CYS