$TRX just round-tripped the whole spike. It ripped from about 0.331 to 0.365 in a single 4h candle, and now it's sitting at 0.3224, down almost 10% on the day and below where the pump started. That's a full fade, not a pullback.
The futures data explains a lot. Binance OI jumped from roughly $87M to $109M on that spike and is still around $101M, so a lot of the late positioning is trapped. Funding has flipped hard negative, -0.12% right now after a -0.24% print earlier, and top traders are about 53% short by position while ~58% of all accounts are still long. Retail is buying the dip, the bigger players aren't.
On the NanoTrading Fire chart 4h, the liquidation heatmap has a thick band sitting right under price at 0.3215-0.3235, with more around 0.320. Above, the clusters stack from 0.345 up to 0.360, the brightest one near 0.360.
My read: if 0.3215 gives way, that band gets swept fast. But with funding this negative, a squeeze back toward 0.345 is very possible if shorts get too comfortable 👀 I'm waiting for one of those two to show before touching $TRX .
Do you think this is a sweep and squeeze setup, or does $TRX bleed toward 0.32 first?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#TRX #TRON #NanoTrading
The futures data explains a lot. Binance OI jumped from roughly $87M to $109M on that spike and is still around $101M, so a lot of the late positioning is trapped. Funding has flipped hard negative, -0.12% right now after a -0.24% print earlier, and top traders are about 53% short by position while ~58% of all accounts are still long. Retail is buying the dip, the bigger players aren't.
On the NanoTrading Fire chart 4h, the liquidation heatmap has a thick band sitting right under price at 0.3215-0.3235, with more around 0.320. Above, the clusters stack from 0.345 up to 0.360, the brightest one near 0.360.
My read: if 0.3215 gives way, that band gets swept fast. But with funding this negative, a squeeze back toward 0.345 is very possible if shorts get too comfortable 👀 I'm waiting for one of those two to show before touching $TRX .
Do you think this is a sweep and squeeze setup, or does $TRX bleed toward 0.32 first?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#TRX #TRON #NanoTrading
