MU climbed almost 6% in a single day. The current price is 976, still pushing right against the 24-hour high of 984. The order book isn’t weak: the 20-level bid orders are 2.3 times the ask orders, and the aggressive buying also makes up 54%. You can even see the big spot orders being traded—over the past five K-lines, net inflow is zero. With such a big rise, the one place that should have money flowing in hasn’t put in a cent; this move has been pushed up by futures and retail traders themselves.
Meanwhile, big players are pulling out too: over a seven-hour period, the long position ratio dropped by 4.6%, and long holdings shrank by 3.9%. The global long/short ratio is still 1.38 and the long ratio is 58%, which isn’t low—but the big players’ share is being reduced, and the funding rate is back to 0. The longs’ enthusiasm has cooled.
They tried to break through 984 with two K-lines, but couldn’t. In 15 minutes the price already fell below the MA20, and the 4-hour upswing has narrowed to -0.49%. No one is taking bids at the highs; the push from the long side has loosened. Those bids at 2.3 times below look like support, but more like the last cheer.
My view: short around 976. First target is 950. If it breaks down, look for 928–919. Set the stop-loss above 984. If it closes back above 984.32 with increased volume, spot big orders start flowing in again, and the big players’ long ratio turns upward, then I’ll admit I’m wrong.
#mu $MU
Meanwhile, big players are pulling out too: over a seven-hour period, the long position ratio dropped by 4.6%, and long holdings shrank by 3.9%. The global long/short ratio is still 1.38 and the long ratio is 58%, which isn’t low—but the big players’ share is being reduced, and the funding rate is back to 0. The longs’ enthusiasm has cooled.
They tried to break through 984 with two K-lines, but couldn’t. In 15 minutes the price already fell below the MA20, and the 4-hour upswing has narrowed to -0.49%. No one is taking bids at the highs; the push from the long side has loosened. Those bids at 2.3 times below look like support, but more like the last cheer.
My view: short around 976. First target is 950. If it breaks down, look for 928–919. Set the stop-loss above 984. If it closes back above 984.32 with increased volume, spot big orders start flowing in again, and the big players’ long ratio turns upward, then I’ll admit I’m wrong.
#mu $MU
