$HYPE I am cautiously optimistic (waiting for a price explosion)
Be careful, $1.55 million entered for buying in the last 30 minutes only, and the short-sellers are in real trouble now, don't miss the next movement.
Proposed trading plan (Scalp Long):
Entry: from $30.80 to $31.00
Take profit: $31.80, $32.50, and $33.50
Stop loss: $30.20
Risk management is essential, the market is volatile and this is a technical view based on current data. $HYPE
Analysis of the logic behind the trade based on whale data:
If you look closely at the picture, you will find an ideal scenario for a "Short Squeeze". We have 207 whales betting on a decline (Short) with a size of $88 million, but their average entry price is $30.18, and the current price is $30.84. This means they are all losing now and stuck in their positions.
In contrast, look at the last 30 minutes' data below: the net buy volume is $1.55 million against very weak selling ($671 thousand). This tells us that there is a "strong buyer" pushing the price up to force the short-sellers to close at a loss, which could cause a rapid price spike upwards.
$HYPE
In your opinion, will the bears give up and close their positions to let the price rise, or will they defend their positions vigorously? Share your prediction in the comments.