$WLD got hit hard today, down about 12% and sitting around 0.467, basically on the low of the day at 0.464. Two days ago it was tagging 0.598, so that whole breakout is gone.
What I find interesting is the positioning. OI on Binance perps bled from about $100M to $82M over the last two days, so a lot of longs already got flushed, and funding just flipped slightly negative (-0.009%). But top traders are actually leaning more long into the drop, their position long/short went from 2.4 to 3.05 in the last 12h.
On the NanoTrading Fire chart (4h) price has fallen out of the value area, the VAL is up near 0.49 and the POC around 0.51-0.52. The thick liquidation streaks are stacked right above us from 0.47 to 0.50, and under 0.45 the map gets a lot thinner.
My read: if $WLD reclaims 0.49 that band above becomes squeeze fuel back toward the POC. Lose 0.45 and there isn't much holding it 🤔 Not touching it until one side breaks.
Are the big guys early on this $WLD dip or are they about to get squeezed out too?
NFA, just my notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#WLD #Altcoins #NanoTrading
What I find interesting is the positioning. OI on Binance perps bled from about $100M to $82M over the last two days, so a lot of longs already got flushed, and funding just flipped slightly negative (-0.009%). But top traders are actually leaning more long into the drop, their position long/short went from 2.4 to 3.05 in the last 12h.
On the NanoTrading Fire chart (4h) price has fallen out of the value area, the VAL is up near 0.49 and the POC around 0.51-0.52. The thick liquidation streaks are stacked right above us from 0.47 to 0.50, and under 0.45 the map gets a lot thinner.
My read: if $WLD reclaims 0.49 that band above becomes squeeze fuel back toward the POC. Lose 0.45 and there isn't much holding it 🤔 Not touching it until one side breaks.
Are the big guys early on this $WLD dip or are they about to get squeezed out too?
NFA, just my notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#WLD #Altcoins #NanoTrading