Short squeeze storm! HYPE surges by 6% in a frenzy, a 34 million whale alert sounds, buy the dip or sell the top?

In the crypto world, those who follow the trend eat the meat, while those against the trend can't even drink the soup.

The short squeeze drama led by whales in HYPE is reaching its climax. The 1-hour chart is tightly hugging the upper Bollinger Band, with moving averages in a bullish alignment. But note that the KDJ is already seriously overbought, and the price is far from the mean, indicating a potential pullback at any time.

On-chain monitoring shows that a whale holds 1.38 million HYPE tokens worth $87.6 million. The leveraged long position with 5x leverage has an unrealized profit of up to $34 million, with a cost basis of only $38.67 and a liquidation price of $50.9. This means the main force has a very thick safety cushion and holds absolute power to continue pushing higher. Smart money overview indicates bulls are crushing bears, with profit ratios exceeding 97%.

Long and short strategies

Long positions around 67 - 68;
Short positions around 70 - 72;

The trend is strong, but it's not advisable to chase the high. The whale's intention is to squeeze the shorts, not to give away money to retail investors.

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