Now you have to pick a side: keep piling on BTW with the shorts, or bet that the shorts will take each other out first? My take is straightforward: funding is -0.79%, annualized at -862%. This isn't bearishness anymore—shorts are literally paying out of pocket to queue up and get liquidated. Price is at 1.68, still 15% below the 4-hour high of 1.98, while the weekly high of 2.75 is a world away. Weekly volume has surged more than 25-fold, with tokens changing hands like crazy at the lows. The Greed Index is only at 54, so sentiment isn't overheated at all, but the shorts have already maxed out their leverage. This setup is a tinderbox, just waiting for a spark. And don't ignore supporting player JCT: it just broke above its 7-day high, so the short-term move is real—but we need to see whether liquidity can sustain it. If not, it's a false breakout, so don't get carried away.

Here's the invalidation level, plain and simple: if BTW falls back below the 1.56 four-hour low, it means the shorts still have ammo. The squeeze thesis is off—don't stubbornly hold on. On the other hand, if it breaks above 1.92, I'll take that as confirmation that this script was right, and let leverage do the rest.

As for those shorts stubbornly hanging on with nearly 9x negative annualized funding, I can only hope your margin is tougher than your mouths. $BTW #山寨季 #Altcoins