$SOL 105.8u: The Long boat is packed at the bottom—are the bulls about to get cooked?
Derivatives data:
• Top Trader L/S: 2.15 (over 68% are holding Longs).
• OI: Still elevated at 884M USDT, even as price is being pushed down near the 24h low (105.78u).
• Longs account for 70% across all exchanges; funding rate is 0.004%.
Scenario: Price is plunging toward support while the Long boat is still overloaded—that’s a clear red flag. MM could easily wick down to the 102–103u zone to flush out leveraged positions before a rebound. Absolutely don’t FOMO into Longs this early; it’s safer to lie in wait and scoop up bargains at lower support than to go against the trend.
Are you guys holding on to your Longs for dear life, or switching to Short-hunting mode?
$SOL $BTC #BinanceSquare #Trading #Crypto
Derivatives data:
• Top Trader L/S: 2.15 (over 68% are holding Longs).
• OI: Still elevated at 884M USDT, even as price is being pushed down near the 24h low (105.78u).
• Longs account for 70% across all exchanges; funding rate is 0.004%.
Scenario: Price is plunging toward support while the Long boat is still overloaded—that’s a clear red flag. MM could easily wick down to the 102–103u zone to flush out leveraged positions before a rebound. Absolutely don’t FOMO into Longs this early; it’s safer to lie in wait and scoop up bargains at lower support than to go against the trend.
Are you guys holding on to your Longs for dear life, or switching to Short-hunting mode?
$SOL $BTC #BinanceSquare #Trading #Crypto