When I saw a whale cut their $SOL long and flip into a 10 million short, my first reaction wasn't to follow them short, but to wait.

The reason is simple: there are already too many shorts.

SOL is hovering around 102. Below, 100.35 is the previous low; above, dense liquidation zones stretch from 102.7 all the way to 105.7.

More strikingly, the long/short ratio has fallen to 16.79%, with 376 million in short positions at an average price of 104.98.

So things are awkward right now:
To the downside, 100.35 is the real breakdown level; to the upside, a move near 105 could trigger another round of short covering.

As for that 10 million short, I won't follow it just because the trader is a “whale.”

If 100.35 doesn't break, I won't chase shorts; if 104.98 is reclaimed, I definitely won't stubbornly stay short.

What really matters this time isn't which side smart money is on, but which side price ultimately holds.

#美股财报季