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$SNOW 296.5, up 1.32%
It churned between 286 and 299.8 all day
The current price is 1.1% below the high
Funding rate: +0.0283%
That's the highest in the market
Longs are paying a hefty price to go long
Yet the price rose just 1.3% all day
Money was spent, but the price didn't move
I've seen this setup too many times
If you're entering, wait for a real breakout above 299.8
Without a move above 299.8, 296.5 is the ceiling
(Not investment advice; trade at your own risk)