Price hugging the 24-hour high of 138.78, then “riding along”—with four hours of five consecutive bullish candles still ending with UP—if you break the trades down, this rally is all shorts propping up longs like a sedan chair.
In the aggressive orders, there are 77,000 sell lots versus 60,000 buy lots; buyers account for only 43.7%. The fee is sliding down close to zero—there’s no sign that the longs are willing to pay any premium. Prices are rising, but the money isn’t following.
In the spot order book, the 20-level sell wall is clearly thicker than the buy wall. Open interest increased by 7.5% in a day, but the price moved only 0.85%. The new positions look more like someone catching shorts near the highs. Aggressive trades over seven hours even shrank by more than 40%—momentum first went out.
Across the whole market, 66% of accounts are holding longs. Yet the whale positions on the long side are only 58.7%—retail traders are shouting louder than the big players. This kind of divergence usually shows up at the tail end of a rebound.
So for this trade: short from 138.6. Place the stop-loss above 138.8. Targets first look to 135; if that breaks, then 134.4. Unless it puts up volume and holds steady above 138.78, aggressive buy orders flip to over 50%, and the fee turns positive, the short thesis won’t be withdrawn. #spcx $SPCX
In the aggressive orders, there are 77,000 sell lots versus 60,000 buy lots; buyers account for only 43.7%. The fee is sliding down close to zero—there’s no sign that the longs are willing to pay any premium. Prices are rising, but the money isn’t following.
In the spot order book, the 20-level sell wall is clearly thicker than the buy wall. Open interest increased by 7.5% in a day, but the price moved only 0.85%. The new positions look more like someone catching shorts near the highs. Aggressive trades over seven hours even shrank by more than 40%—momentum first went out.
Across the whole market, 66% of accounts are holding longs. Yet the whale positions on the long side are only 58.7%—retail traders are shouting louder than the big players. This kind of divergence usually shows up at the tail end of a rebound.
So for this trade: short from 138.6. Place the stop-loss above 138.8. Targets first look to 135; if that breaks, then 134.4. Unless it puts up volume and holds steady above 138.78, aggressive buy orders flip to over 50%, and the fee turns positive, the short thesis won’t be withdrawn. #spcx $SPCX
