$AKE This data is a bit alarming. Let’s look at the overall picture:
The funding rate shot straight up to +0.045%. The average long entry is 0.0049, and longs have made a whopping 380K U! Meanwhile, 335 shorts are trapped, down 840K U.
After a 90% rally, with longs sitting on such hefty profits and the funding rate absurdly high, it looks like everyone is frantically chasing longs and paying protection money to the market makers. At this rate, they could dump the price at any moment and liquidate the longs.
Trade plan: Re-enter and short directly around the current price of 0.006. Stop at 0.0068, with a target of 0.0045. $AKE
The funding rate shot straight up to +0.045%. The average long entry is 0.0049, and longs have made a whopping 380K U! Meanwhile, 335 shorts are trapped, down 840K U.
After a 90% rally, with longs sitting on such hefty profits and the funding rate absurdly high, it looks like everyone is frantically chasing longs and paying protection money to the market makers. At this rate, they could dump the price at any moment and liquidate the longs.
Trade plan: Re-enter and short directly around the current price of 0.006. Stop at 0.0068, with a target of 0.0045. $AKE
