$XAN The market is starting to shift a bit differently.

This isn't the bottom, but if the big players really want to make a move, a pullback could actually be a spot to add more.

Here are the key points I'm noticing:
- Contract open interest is clearly elevated
- Active buying is still looking healthy
- Funding rates haven't gone out of control
- Alpha signals are also showing up

My first entry price: 0.011409

I'm going to start with a small position to ride it out; if the structure breaks, I'm out, but if it strengthens, I'll add more.

In this kind of trade, the goal isn't to guess the highest point but to position ourselves near where a breakout might happen.

I'm bullish, but that doesn't mean I'm ignoring risks; if support levels fail, I'm not sticking around.