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The current market situation with TON, the bears should consider how to make an extra move
Last night, TON saw both longs and shorts take a hit.
24-hour liquidation reached $11.63 million, with shorts liquidating $8.36 million, accounting for over 70%.
In 4-hour and 12-hour periods, shorts were consistently pressed down.
Did the longs make money? No.
Currently, long positions total 16.44 million, short positions 7.87 million, with twice as many people betting on the upside.
But longs are still down 210k, shorts down 1.31 million.
Longs pay 570k in funding fees daily, feeling very exhausted.
Can the bears reverse and take out a wave of longs?
Honestly, longs are also struggling now: heavy positions, paying fees, not making profits, like holding a barbell in the wind.
The bears want to counterattack, focusing on two points:
1. Wait until funding fees rise a bit more.
Longs will start to feel the pain after paying for a while; if someone can't hold their long positions, a price drop could allow the bears to follow through.
2. Wait for a false breakout.
Push the price up a bit more, lure the last batch of traders into opening longs, then if there's no genuine buying volume to follow, the bears can quickly open shorts and smash the price back to the original point.
The longs are now "fat but tired," the bears "lean but agile."
Don’t confront head-on; wait until longs can’t hold on anymore, then step on the gas.
In short: Both sides are bleeding, longs are slowly bleeding out, shorts are being wiped out in large numbers.
The bears want to turn the tide—don’t be stubborn, wait for the right opportunity.