SK Hynix Unveils a “Golden Pit”! Big Whales Gobble Up 21.27 Million—Short Liquidations Could Spark Any Moment!

Be fearful when others are greedy; be greedier when others are fearful.

News: Nasdaq listing countdown—whales go all-in bullish!

SK Hynix officially announced that it will list on Nasdaq on July 10, raising more than $29 billion in IPO proceeds. After the news broke, SKHYNIX surged 14% to $1930. On Hyperliquid, 9 out of 10 whales went long, with $21.27 million in long positions showing gains across the board. Smart money’s long positions amount to as much as 40.42 million USDT, with a profit ratio of 89.72%! The shorts are getting crushed.

Technicals: Consolidation in a high-range box—waiting for a breakout!
On the 1-hour chart, after rallying up to 1930, price pulled back to around 1903, forming a high-range box of 1850-1930. Moving averages are in a bullish alignment, but the RSI has turned down from the overbought zone, indicating a need for a short-term pullback. Key levels: resistance at 1930-1950, support at 1850-1800.

Liquidation map: Shorts hanging by a thread!

The current price is only one step away from the dense short liquidation zone at 1939-1954. Once it breaks through, it will trigger a chain reaction of short liquidation blowouts, pushing the price straight toward 2000! The long liquidation is far below at 1700, leaving extremely limited downside room!

Trading strategy:

Go long near 1870 - 1900, target around 1950-2000.

Go short near 2000-1980;

Personal view: Although the news is hot, the market’s capital battle has already entered a white-hot phase. Don’t let the 14% one-day rally get you carried away—short-term overheating is often followed by violent deleveraging moves.

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