Short squeeze tempest! HYPE surges violently by 6%, a warning alarm for 34 million whales sounds, bottom fishing or top escaping?

In the crypto world, trend followers eat meat, contrarians can't even drink soup.

The short squeeze drama led by whales is reaching its climax. The 1-hour chart closely follows the upper Bollinger Band, with a bullish moving average alignment. But note that the KDJ is seriously overbought, and the price deviates too far from the mean, indicating a potential pullback.

On-chain monitoring shows that a whale holds 1.38 million HYPE tokens worth 87.6 million USD, with a 5x leveraged long position with unrealized profit of up to 34 million USD, with a cost basis of only 38.67 USD and a liquidation price of 50.9. This means the main force has a very thick safety cushion and has absolute influence to continue pushing the price higher. Smart money overview indicates bulls dominate bears, with profit share 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 high. The whale’s intention is to force a short squeeze, not to give money to retail investors.

‍$HYPE #马斯克称SpaceX市值将达2万亿美元 #TradFiCFD黄金大师赛