$CYBER That was a seriously nasty move—a single long wick wiped out both the longs and the shorts.
Look at that long upper wick on the daily chart: it surged to 0.41, then got slammed straight back down to 0.32. This is clearly a pump-and-dump, leaving all the FOMO longs stranded at the top.
But you can't blindly short either. Look at these numbers: the funding rate plunged to -0.22%! The shorts are packed in, and they're all gloating over their 110,000 USDT profits. With funding this extremely negative, the whales could pump another wick at any moment and squeeze the shorts out.
Still, since the broader trend has reversed after that spike, I'm going with the trend and shorting.
My aggressive play: open a small short around the current price of 0.3269!
No need to wait for a bounce—now that the distribution pattern has formed, I'm jumping in. I'll set my stop above 0.35 (around the shorts' average entry). If the whales really pump it and spike the funding rate, I'll take the loss and stop out. But if it gets dumped, my first target is the previous low at 0.30; if that breaks, I'm looking straight at 0.25.$CYBER
Look at that long upper wick on the daily chart: it surged to 0.41, then got slammed straight back down to 0.32. This is clearly a pump-and-dump, leaving all the FOMO longs stranded at the top.
But you can't blindly short either. Look at these numbers: the funding rate plunged to -0.22%! The shorts are packed in, and they're all gloating over their 110,000 USDT profits. With funding this extremely negative, the whales could pump another wick at any moment and squeeze the shorts out.
Still, since the broader trend has reversed after that spike, I'm going with the trend and shorting.
My aggressive play: open a small short around the current price of 0.3269!
No need to wait for a bounce—now that the distribution pattern has formed, I'm jumping in. I'll set my stop above 0.35 (around the shorts' average entry). If the whales really pump it and spike the funding rate, I'll take the loss and stop out. But if it gets dumped, my first target is the previous low at 0.30; if that breaks, I'm looking straight at 0.25.$CYBER
