Oh my, I just opened my eyes this morning and saw $STEEM n—so incredibly scary, bro! Look at the 1H candle there—coming from an accumulation zone for years, it suddenly broke out in one burst. Even the whole 1D chart clearly shows an upward trend. Trading volume exploded across all timeframes, confirming that money is pouring in very strongly—up 50.15% in 24h with volume close to $7.5 million USDT, not to mention.
These past few days, the overall crypto market has also been buzzing with Bitcoin ETF news, pushing both BTC and ETH up and triggering multiple consecutive short squeezes—so that’s probably the main catalyst pulling STEEM higher. Derivatives data is even more interesting: Open Interest is up over 186%, and the funding rate is negative at -1.34%—so there’s definitely a short-squeeze vibe. It seems the whales are sweeping up the stop-losses of those shorts, even though retail is still holding quite a lot of Long positions (69.7%). 👀
But hey, traders can have guts, yet the head must stay cold! Check the RSI: 1H is already 95.5, 1D is 86.4, and Stoch RSI is pinned at the ceiling. If it’s already up more than 50% in 24h, the most favorable zone to catch gains may have already passed. Buying in at this moment is really easy to get the top—extremely risky.
These past few days, the overall crypto market has also been buzzing with Bitcoin ETF news, pushing both BTC and ETH up and triggering multiple consecutive short squeezes—so that’s probably the main catalyst pulling STEEM higher. Derivatives data is even more interesting: Open Interest is up over 186%, and the funding rate is negative at -1.34%—so there’s definitely a short-squeeze vibe. It seems the whales are sweeping up the stop-losses of those shorts, even though retail is still holding quite a lot of Long positions (69.7%). 👀
But hey, traders can have guts, yet the head must stay cold! Check the RSI: 1H is already 95.5, 1D is 86.4, and Stoch RSI is pinned at the ceiling. If it’s already up more than 50% in 24h, the most favorable zone to catch gains may have already passed. Buying in at this moment is really easy to get the top—extremely risky.
