$NOM ๐จ SHORT SQUEEZE ALERT: Is this Ready to Explode? ๐
Don't let the price action fool you. The "behind the scenes" data for This is screaming for a massive reversal. Here is why Iโm going LONG right now:
โ Extreme Funding (-1.107%): Shorts are bleeding! They are paying a massive premium every 4 hours just to hold their positions. This usually ends in a violent move upward to liquidate them.
โ Open Interest Skyrocketing: OI just hit a new local high (~580M NOM). The fuel for a squeeze is ready.
โ Deep Discount: The Basis is heavily negative, meaning Futures are trading way below Spot. This gap MUST close.
My Setup:
๐ Entry: $0.00601 - $0.0063
๐ฏ Take Profit: $0.0072 (First major resistance)
๐ก๏ธ Stop Loss: $0.0057 (Below the recent panic wick)
This is a high-reward setup with the funding working in our favor. I will try to profit this bounce ๐
โ ๏ธ Risk Warning: Funding is extreme for a reason. High volatility expected. Manage your leverage wisely!
What do you think? Is NOM going to the moon or another leg down? Let me know in the comments! ๐
And hey, rumor has it that if you hit follow, your luck on the next trade gets a little upgrade. I canโt guarantee profits, but I can at least try to improve the odds of your entries.