When the price is being ground down to the bottom of the pit, on the large-account side someone is quietly adding more. In just a few hours, the long accounts’ share rises by a notch. In the whale accounts, an overwhelming majority are all positioned on the long side—this kind of move isn’t something retail traders can put together, and no one dares to go up against it. The spot order book is tightly locked: the buy and sell orders bite down hard, with the aggressive buy orders pressing against the sell orders. From the low point that was smashed out this morning to now, the price hasn’t pierced further downward. It’s clear someone is using the sideways-to-down drift to pile on the longs, making that camp thicker and thicker. Once this batch of positions pushes the price back above the moving average, those who just got out after cutting their losses will go back to berating themselves on the screen for hitting the sell button. If they want back in, it won’t be that price anymore.