The coin price is still grinding downward, while money quietly pushes to the long side—within a day, the long/short ratio of spot leverage at $CFG is nearly doubling. The borrowed funds are still being shoved into long positions; the debt growth rate has just turned from negative to positive, and the chips are being washed and increasingly concentrated in the hands of a few accounts. The price keeps hovering just above two moving averages—none of the gains accumulated over the past week have been given back. On the big players’ side, long positions are still being added. While others are counting red candles, I only watch which side the money stands with. Those who wait for the breakdown all the way to the end will look back and find they were just running alongside this washout. When it finally really rallies, even getting on the train will depend on抢 (scrambling).