The short-selling script got stuck halfway through. 128— that long upper wick pushed the price from 128 down to 117.88. Now it’s lying around 120; the two moving averages are pressing the head, and the 4-hour and daily lines are both DOWN. On the surface, everything looks bearish.
But the real capital is moving the opposite way. The whales’ long positions increased by 19.9% over the last 7 hours—yet 76.9% of the position is longs. The contract’s actively executed buy orders also make up 57.8%. As price drops, big money isn’t withdrawing; it’s adding at lower levels.
This matches what weak hands are doing perfectly: total open interest fell 4.07% over 7 hours—those are retail cutting positions, while chips are being transferred from retail soldiers to big players. The funding rate is 0, which indicates this wave of longs isn’t driven by leveraged bubble risk—this isn’t the “false heat” of short covering.
So are going long just fighting the trend? No—it’s fighting the chip flow. The support at 117.85–117.88 hasn’t broken for two days. The aggressive buys are taking bites at lower prices. Go long around 120: the first bite is to fill the gap in the moving averages from 121–123. Once it holds, then look for the rebound to refill 128.
Let’s state the risks clearly: if the close falls below 117.85, it means the big money doing the taking is also buried—then you撤 (exit) unconditionally; or if the whales’ positions over 7 hours turn and reduce, and the aggressive buys break below 50%, then the accumulation story collapses. Until then—long.
#soxl $SOXL
But the real capital is moving the opposite way. The whales’ long positions increased by 19.9% over the last 7 hours—yet 76.9% of the position is longs. The contract’s actively executed buy orders also make up 57.8%. As price drops, big money isn’t withdrawing; it’s adding at lower levels.
This matches what weak hands are doing perfectly: total open interest fell 4.07% over 7 hours—those are retail cutting positions, while chips are being transferred from retail soldiers to big players. The funding rate is 0, which indicates this wave of longs isn’t driven by leveraged bubble risk—this isn’t the “false heat” of short covering.
So are going long just fighting the trend? No—it’s fighting the chip flow. The support at 117.85–117.88 hasn’t broken for two days. The aggressive buys are taking bites at lower prices. Go long around 120: the first bite is to fill the gap in the moving averages from 121–123. Once it holds, then look for the rebound to refill 128.
Let’s state the risks clearly: if the close falls below 117.85, it means the big money doing the taking is also buried—then you撤 (exit) unconditionally; or if the whales’ positions over 7 hours turn and reduce, and the aggressive buys break below 50%, then the accumulation story collapses. Until then—long.
#soxl $SOXL
