Just look at this chart. $DOOD got absolutely crushed. Down 17.88%.
The longs are sitting in a graveyard of their hopes. They're down $87,000. They bought at the very top and are now praying the price will come back.
Now look at the shorts. 187 traders against 107 bulls. They're putting $1.76 million into the market. They feel like kings. They're up $60,000 and think they've got it all figured out.
But there's one catch. The funding rate has gone negative. That means shorts have become too popular. The crowd has got it wrong again.
The takeaway: The market doesn't like it when anyone gets too confident. We'll either see the decline continue or, more likely, the market will trigger a brutal squeeze. Anyone who went short at the very bottom will get flattened. Don't be the hangman who walks to the gallows.
The longs are sitting in a graveyard of their hopes. They're down $87,000. They bought at the very top and are now praying the price will come back.
Now look at the shorts. 187 traders against 107 bulls. They're putting $1.76 million into the market. They feel like kings. They're up $60,000 and think they've got it all figured out.
But there's one catch. The funding rate has gone negative. That means shorts have become too popular. The crowd has got it wrong again.
The takeaway: The market doesn't like it when anyone gets too confident. We'll either see the decline continue or, more likely, the market will trigger a brutal squeeze. Anyone who went short at the very bottom will get flattened. Don't be the hangman who walks to the gallows.