Up 200% yet 67% of people are still short? This divergence is interesting.
BULLA’s trading volume surged to $578 million today, with the price jumping from 0.025 to 0.092 and now pulling back to around 0.084. Normally, a rally like this should have a bunch of people chasing long positions, but position data shows shorts actually make up the majority.
There are two possibilities: either experienced traders are opening shorts at higher levels and waiting for a pullback, or shorts are trapped and haven’t closed yet. Combined with funding at only 0.12%, which isn’t high, it looks more like the former — people are being cautious and staying on the sidelines.
In the short term, the candlestick range is consolidating between 0.083 and 0.090, and the direction hasn’t been decided yet. At times like this, chasing strength or selling weakness can easily get you hit; waiting for a breakout is safer.
$BULLA #逼空行情 #200%涨幅
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