SOXS looks quite lively when it comes to “bottom catching”: eating single orders and buying open orders at 55%, with the majority of whale accounts on the long side—yet the price is still slowly sliding and hanging near the 43.4 low. It’s not that nobody is buying; it’s that whoever’s catching can’t hold it. The factor that determines direction is never the number of accounts—it’s the money.
Look at the positioning and it gives the game away. More than half of the whale accounts are long, but by position size, longs only account for 24%. That means the big positions—76%—are betting on continued downside. Small whales block the knife in front, while the big money pushes the order book down from behind. Every intraday bounce gets treated as a shorting add point.
The trend also doesn’t support the longs: on the 15-minute chart it breaks below the 20/50 double moving averages; on the 4-hour chart, out of six K-lines, four are bearish, and the daily chart is aligned downward. In the order book, sell orders are thicker than buy orders. Open interest was cut by 12.4% in a single day, and all the ones being cleaned out were floating long positions. With the funding rate stuck at 0, there’s no reversal “fuel” at all.
I’m directly shorting SOXS. If it breaks below 43.4, I’ll follow through and look for moves below 41. With a 3x leveraged product, volatility gets amplified—so you must keep your position size in check.
Reversal conditions: when the whale long position ratio pulls back above 50% and the price regains the 20 moving average at 44.7, I’ll cancel this trade—don’t go against the big positions.
#soxs $SOXS
Look at the positioning and it gives the game away. More than half of the whale accounts are long, but by position size, longs only account for 24%. That means the big positions—76%—are betting on continued downside. Small whales block the knife in front, while the big money pushes the order book down from behind. Every intraday bounce gets treated as a shorting add point.
The trend also doesn’t support the longs: on the 15-minute chart it breaks below the 20/50 double moving averages; on the 4-hour chart, out of six K-lines, four are bearish, and the daily chart is aligned downward. In the order book, sell orders are thicker than buy orders. Open interest was cut by 12.4% in a single day, and all the ones being cleaned out were floating long positions. With the funding rate stuck at 0, there’s no reversal “fuel” at all.
I’m directly shorting SOXS. If it breaks below 43.4, I’ll follow through and look for moves below 41. With a 3x leveraged product, volatility gets amplified—so you must keep your position size in check.
Reversal conditions: when the whale long position ratio pulls back above 50% and the price regains the 20 moving average at 44.7, I’ll cancel this trade—don’t go against the big positions.
#soxs $SOXS
