Friends, I’m getting ready to open a large short position on $RLC here, using 20x leverage.
The obvious question now is: why short it after $RLC has surged so sharply? 🤔
Because the force driving the price higher may have run out of steam.
In this move, many shorts have already been squeezed out, and most of the short-side liquidity above has been cleared. Meanwhile, the on-chain activity I’m watching is starting to show large wallets selling around these highs.
This is where I think the situation is changing.
When shorts have already been liquidated and large holders start taking profits after a vertical rally, the price can reverse faster than people expect.
So while those buying the top are still watching the green candles and thinking there’s more upside, I’m watching for a move in the opposite direction.
If selling pressure continues to build from here, $RLC could quickly fall back toward the area where this breakout began.
This isn’t a low-risk trade, so I’ll manage my risk carefully.
This rally squeezed the shorts. Now I want to see whether the market starts squeezing those who bought the top. 👀
$FIL
#FIL
The data is from public sources. Please verify it for yourself.
The obvious question now is: why short it after $RLC has surged so sharply? 🤔
Because the force driving the price higher may have run out of steam.
In this move, many shorts have already been squeezed out, and most of the short-side liquidity above has been cleared. Meanwhile, the on-chain activity I’m watching is starting to show large wallets selling around these highs.
This is where I think the situation is changing.
When shorts have already been liquidated and large holders start taking profits after a vertical rally, the price can reverse faster than people expect.
So while those buying the top are still watching the green candles and thinking there’s more upside, I’m watching for a move in the opposite direction.
If selling pressure continues to build from here, $RLC could quickly fall back toward the area where this breakout began.
This isn’t a low-risk trade, so I’ll manage my risk carefully.
This rally squeezed the shorts. Now I want to see whether the market starts squeezing those who bought the top. 👀
$FIL
#FIL
The data is from public sources. Please verify it for yourself.