4 hours saw a rise of 3.23%, with the price moving back above two moving averages—looks like a comeback is on the way. But don’t get excited just yet. So far today, it’s still down overall by 8.5%, and neither the daily nor the four-hour structure has turned bullish. The rebound is real, but the money pushing it doesn’t look right.
Open interest over the last 24 hours grew from 30.73 million to 34.5 million, up 12.26% in a day. Fees are also charging a 0.0224% long premium. Out of eight sampling points, seven were positive—during the drop, leveraged longs didn’t run; instead, they stayed put and added more. Meanwhile, looking at spot trading: by the large-order metric, there were five consecutive K-bars with no net inflow. That 3.23% isn’t being pushed by real money—it's built by derivatives leverage.
In the order book, the sell volume on the top 20 levels is 132.95 versus buy volume of 81.72—there’s a sell wall pressing down. For the whale accounts, the long/short ratio fell by 4.11% over the last seven hours, meaning big money is reducing longs. The share of aggressive buys in completed trades is 50.7%—just over half—so there’s no decisive push to force a squeeze.
My stance: short. Enter around 227.9. First target is a retest of the 219.2 low. If it breaks down and continues with the trend to make a new daily low, stop loss at 233. When to flip long? Only if all three conditions are met: the four-hour chart shows volume and reclaims above 232, large spot orders actually put in real capital, and whales shift from reducing to adding. At this level right now, a rebound is a window to hand someone a knife.
#mrvl $MRVL
Open interest over the last 24 hours grew from 30.73 million to 34.5 million, up 12.26% in a day. Fees are also charging a 0.0224% long premium. Out of eight sampling points, seven were positive—during the drop, leveraged longs didn’t run; instead, they stayed put and added more. Meanwhile, looking at spot trading: by the large-order metric, there were five consecutive K-bars with no net inflow. That 3.23% isn’t being pushed by real money—it's built by derivatives leverage.
In the order book, the sell volume on the top 20 levels is 132.95 versus buy volume of 81.72—there’s a sell wall pressing down. For the whale accounts, the long/short ratio fell by 4.11% over the last seven hours, meaning big money is reducing longs. The share of aggressive buys in completed trades is 50.7%—just over half—so there’s no decisive push to force a squeeze.
My stance: short. Enter around 227.9. First target is a retest of the 219.2 low. If it breaks down and continues with the trend to make a new daily low, stop loss at 233. When to flip long? Only if all three conditions are met: the four-hour chart shows volume and reclaims above 232, large spot orders actually put in real capital, and whales shift from reducing to adding. At this level right now, a rebound is a window to hand someone a knife.
#mrvl $MRVL
