$ENA order flow at the desk is stacked so thick, with the bid-ask spread so tight it becomes a single line—what a solid iron-tub formation. Unfortunately, it’s a 🐶 rigged play: the “house” sets it up at the high end, staged for the crowd to watch. In this round, I call it a distribution. In the aggressive order book, sell orders are pressing under the buy orders, and they get doubled down and smashed through. No matter how thick the bid wall is, it’s only props for bag-holders. The price has already fallen from today’s top early. The outcome of propping up at the high end is a steady, downward, drifting decline all the way—if the long side has it, don’t let go.