105.9u: The Long boat is 70% overloaded; Bulls, beware of getting cooked.
Derivatives data:
• Top Trader L/S: 2.15 (68.3% leaning Long).
• OI: firmly anchored at 906M USDT.
• Funding rate is positive, while price hovers near its 24h low (104.5u).
Scenario: Everyone crowding into Longs at weak support is an obvious red flag. The MM could easily sweep the wick below 104u to clear liquidity before sharply pulling price back up. Don’t FOMO in front of the train; waiting to scoop up bargains around 102–103u is safer.
Are you holding Longs or lying in wait to Short the wick sweep?
#BinanceSquare #Trading #Crypto
Derivatives data:
• Top Trader L/S: 2.15 (68.3% leaning Long).
• OI: firmly anchored at 906M USDT.
• Funding rate is positive, while price hovers near its 24h low (104.5u).
Scenario: Everyone crowding into Longs at weak support is an obvious red flag. The MM could easily sweep the wick below 104u to clear liquidity before sharply pulling price back up. Don’t FOMO in front of the train; waiting to scoop up bargains around 102–103u is safer.
Are you holding Longs or lying in wait to Short the wick sweep?
#BinanceSquare #Trading #Crypto