$IDOL is bearish. It ranks second among the biggest contract gainers, up nearly 30% in a day. Yesterday it hit a new all-time high of 0.0445, but today it has steadily fallen back to 0.0328. The annualized funding rate is still at 132%—the longs are far too crowded. 0.0237 is today’s low; if it breaks below that, don’t buy the dip—it could fall further. Don’t be the last one left holding the bag when everyone is bullish.