120u: Volume is tightly compressed, and the Long boat is packed!
Derivatives data:
• Top Trader L/S: 2.29 (nearly 70% are leaning Long).
• OI: Holding at a high 990M USDT.
• 24h range: Stuck between 118.8–121.5u; funding rate is cooling off.
Scenario: Everyone piling into Longs at resistance is a red flag. The MM could easily wick down to 115–116u to flush out high leverage before pushing the price up. Waiting to scoop up lower is safer than standing in front of the train.
#BinanceSquare #Crypto #Trading
Derivatives data:
• Top Trader L/S: 2.29 (nearly 70% are leaning Long).
• OI: Holding at a high 990M USDT.
• 24h range: Stuck between 118.8–121.5u; funding rate is cooling off.
Scenario: Everyone piling into Longs at resistance is a red flag. The MM could easily wick down to 115–116u to flush out high leverage before pushing the price up. Waiting to scoop up lower is safer than standing in front of the train.
#BinanceSquare #Crypto #Trading