Seven days: 13.27% downkill, yet contract open interest in a single day is cut by 7.66%—this is liquidation-style clearing, not a short squeeze manufactured by adding shorts.
After the price tapped the bottom at 0.00336 and just managed to catch its breath, the big players’ positions turned around within seven hours and added 10.48%; 68.3% of positions are going long.
On the board, the ones cutting their losses are leveraged long positions, while the ones picking up the incoming orders are the big players. The aggressive buy-side accounts for 55.6%, and the taker buy volume surged by 93.78% over seven hours—fear-driven sell pressure has been dumped out, and the chips were taken over with real money.
Funding rate is 0.01%. In eight samplings, six are positive. At this level, no one is crazily shorting. The drop is a chain reaction of multiple liquidations: leveraged longs get wiped out one after another. After they’re liquidated, the ammunition is basically used up.
I’m going long on the reversal. 0.00344 area—pullbacks there can be entered. The target is the 24-hour high at 0.00381. If it breaks below 0.00336, I’ll admit I’m wrong and exit—if the bottom breaks, it also means the big players took the wrong side, so there’s no need to keep fighting.
There are only two reversal signals: the price breaks below 0.00336 again, or the big players’ position over seven hours flips from positive to negative. If either happens, cancel the long position immediately. #pepe $PEPE
After the price tapped the bottom at 0.00336 and just managed to catch its breath, the big players’ positions turned around within seven hours and added 10.48%; 68.3% of positions are going long.
On the board, the ones cutting their losses are leveraged long positions, while the ones picking up the incoming orders are the big players. The aggressive buy-side accounts for 55.6%, and the taker buy volume surged by 93.78% over seven hours—fear-driven sell pressure has been dumped out, and the chips were taken over with real money.
Funding rate is 0.01%. In eight samplings, six are positive. At this level, no one is crazily shorting. The drop is a chain reaction of multiple liquidations: leveraged longs get wiped out one after another. After they’re liquidated, the ammunition is basically used up.
I’m going long on the reversal. 0.00344 area—pullbacks there can be entered. The target is the 24-hour high at 0.00381. If it breaks below 0.00336, I’ll admit I’m wrong and exit—if the bottom breaks, it also means the big players took the wrong side, so there’s no need to keep fighting.
There are only two reversal signals: the price breaks below 0.00336 again, or the big players’ position over seven hours flips from positive to negative. If either happens, cancel the long position immediately. #pepe $PEPE
