$LINK Now 9.48, still stuck under that 9.57 breakout line. The script really hasn’t changed at all. In a week it went from 8.2 up to 14 points—never once did it punch through. It’s always a soft pull, then soft again.
Over on the plaza, the hype has kicked up again. Wyoming moved stablecoins to CCIP, and the ETF added another two million; sentiment spiked to more than seven points. In a single day there are over eighty bullish posts—almost just calling for $10, see you tomorrow.
But the money side? The more I look, the more I feel uneasy. In spot over three hours you’ve got twelve candle sticks—none of them are positive. Net outflows are over 1.5 million, and big orders are also moving out. Contract open interest has risen, sure, but aggressive orders are being sold more than bought; bid volume only makes up 43%. The funding rate is just lying there and hasn’t moved. Whales’ positions are still holding more than 60% of the orders. Spot leverage long/short ratio is over seventy times—everyone’s squeezed on one side. Who’s going to take the other side? I don’t get it.
Put simply: when the news was hottest, the backstop money didn’t keep up, and volume didn’t expand either. Just by yelling—can this wall be flipped over?
I’m not chasing at this level. I’ll first see where the money is going. I’ll wait for a pullback and confirmation before entering—it’ll feel better than chasing right now.
#link $LINK
Over on the plaza, the hype has kicked up again. Wyoming moved stablecoins to CCIP, and the ETF added another two million; sentiment spiked to more than seven points. In a single day there are over eighty bullish posts—almost just calling for $10, see you tomorrow.
But the money side? The more I look, the more I feel uneasy. In spot over three hours you’ve got twelve candle sticks—none of them are positive. Net outflows are over 1.5 million, and big orders are also moving out. Contract open interest has risen, sure, but aggressive orders are being sold more than bought; bid volume only makes up 43%. The funding rate is just lying there and hasn’t moved. Whales’ positions are still holding more than 60% of the orders. Spot leverage long/short ratio is over seventy times—everyone’s squeezed on one side. Who’s going to take the other side? I don’t get it.
Put simply: when the news was hottest, the backstop money didn’t keep up, and volume didn’t expand either. Just by yelling—can this wall be flipped over?
I’m not chasing at this level. I’ll first see where the money is going. I’ll wait for a pullback and confirmation before entering—it’ll feel better than chasing right now.
#link $LINK