A 46% drop, yet 61% of people are still going long.
COLLECT fell from 0.104 to 0.046 in the past 24 hours, with trading volume approaching 50 million U. At times like this, those still insisting on going long are either waiting for a rebound to get back in the green, or simply haven’t realized the trend has already turned bearish.
The hourly chart has printed three consecutive red candles, which shows selling pressure is still continuing. Although the funding rate is not high, the long/short ratio shows that most people are still betting on a rebound.
This kind of situation where "the more it falls, the more people go long" often means the bottom is not in yet—because too many people are waiting to be liquidated.
$COLLECT #暴跌预警 #61% long
Click the small card below to quickly check the market👇
COLLECT fell from 0.104 to 0.046 in the past 24 hours, with trading volume approaching 50 million U. At times like this, those still insisting on going long are either waiting for a rebound to get back in the green, or simply haven’t realized the trend has already turned bearish.
The hourly chart has printed three consecutive red candles, which shows selling pressure is still continuing. Although the funding rate is not high, the long/short ratio shows that most people are still betting on a rebound.
This kind of situation where "the more it falls, the more people go long" often means the bottom is not in yet—because too many people are waiting to be liquidated.
$COLLECT #暴跌预警 #61% long
Click the small card below to quickly check the market👇