$SNXX This vacuum cleaner had no intention of stopping at all. The contract itself took the bill and directly dragged the sell orders across the floor for friction. The funding rate flipped back to positive; long positions’ costs are so low they might as well not exist. This isn’t called a rebound—it’s slow, steady bloodletting, specifically treating every kind of short who isn’t satisfied.
The big players’ long positions are still being piled up—heavy and stable. Whoever cuts losses at low levels is basically feeding this vacuum cleaner. Are the shorts still watching the K-line hoping for big bearish candles to save them? Maybe they’ll have to wait until the next cycle.
The direction was already laid out—don’t fight the trend.