$FIL’s surge to 1.27 was entirely driven by whales pumping the price before dumping their holdings.
The four-hour chart has now printed three straight bearish candles, wiping out the gains just as quickly as they came. It’s an ugly sight.
The crazy part is that the long/short ratio is still sitting at 2.2.
The market is packed with longs who refuse to cut their losses, while the whales already dumped their bags on retail traders near the top. There’s no way this price action can hold steady. If it gets pushed down a little further, long positions will start triggering stop-losses and drive the price down even more.
#比特币突破8.4万美元 #FIL $FIL
#GTC $GTC
👇
The four-hour chart has now printed three straight bearish candles, wiping out the gains just as quickly as they came. It’s an ugly sight.
The crazy part is that the long/short ratio is still sitting at 2.2.
The market is packed with longs who refuse to cut their losses, while the whales already dumped their bags on retail traders near the top. There’s no way this price action can hold steady. If it gets pushed down a little further, long positions will start triggering stop-losses and drive the price down even more.
#比特币突破8.4万美元 #FIL $FIL
#GTC $GTC
👇