$JCT A shocking “death scythe”! After a frenzy of 7.7 million, are the big players about to reverse and wipe out longs?

The frenzy at the center of the storm is often the calm before the scythe falls!

View and analysis: The data shows money pouring in, with the whale long/short ratio reaching 505%. Earlier, shorts were indeed aggressively liquidated for 6.17 million. But note that after a death cross at the highs on the 1-hour chart, the price has drifted down on declining volume, while the funding rate has surged to 1050%! Longs are extremely crowded.

After liquidating the shorts, the big players will likely reverse and liquidate longs to flush out leverage. In the past, high funding rates combined with high-level consolidation have typically been bull traps.

Trading advice: Aggressive traders can open a small short-term long at the current price of 0.009; conservative traders can look to short on a rebound near 0.0096-0.010.

For the latest entry points and stop-loss levels, @老张说趋势 stay tuned

#美国10月CPI即将公布 #红牛双车登上巴西领奖台