PEPE rose all day, but the money to pay the bill is almost gone. In 24 hours it’s still in the green, in 4 hours there are six candlesticks with four bullish ones, and the daily trend is also pointing upward—yet the contract’s主动 buy order ratio has dropped to 31%, and within 7 hours it has been slashed by 55%. The price is moving up, but the funds aren’t following. This +3% is being dragged by existing liquidity, not lifted by new money.
The order book tells the same story: spot buy walls are only half the size of sell walls, and the sell-side limit orders above are twice as thick as the ones below. In the futures market, open interest fell by 2.8% over 7 hours. The rebound didn’t pull in fresh longs, while the funding rate is still positive. Longs are paying fees while being supplied against.
The candlesticks look good, but both volume and order book are moving in the opposite direction—this is the classic pattern of distribution during a bounce. The larger trend over 7 days at -12.89% hasn’t fully flipped yet; this pullback rebound is at most a dead-cat bounce.
At the current price of 0.00352, short with a stop loss at 0.00363 (above the 1-day high). First target: 0.00339. Second target: 0.00336. As long as the主动 buy order ratio returns to 50% or higher and the price climbs with volume above 0.00362, I’ll admit I’m wrong and close this position.#pepe $PEPE
The order book tells the same story: spot buy walls are only half the size of sell walls, and the sell-side limit orders above are twice as thick as the ones below. In the futures market, open interest fell by 2.8% over 7 hours. The rebound didn’t pull in fresh longs, while the funding rate is still positive. Longs are paying fees while being supplied against.
The candlesticks look good, but both volume and order book are moving in the opposite direction—this is the classic pattern of distribution during a bounce. The larger trend over 7 days at -12.89% hasn’t fully flipped yet; this pullback rebound is at most a dead-cat bounce.
At the current price of 0.00352, short with a stop loss at 0.00363 (above the 1-day high). First target: 0.00339. Second target: 0.00336. As long as the主动 buy order ratio returns to 50% or higher and the price climbs with volume above 0.00362, I’ll admit I’m wrong and close this position.#pepe $PEPE
