After a certain height of this layer, the pull-up is indeed very real. Retail investors are all FOMOing, and market makers won't use such a large amount of funds to push up. The shorts have also been squeezed out. At this point, the main player starts to sell off. If it’s a trap for shorts, you can see the spot trading volume clearly in the 1/5/15 minute transaction volume. When the negative funding rate changes to holding a short position for 1 hour, it indeed feels very pressured. The main player will sell off part of the goods, then consolidate and wash out before pulling up again (this period will be relatively long). Such targets for long positions are also not recommended! (The funding can still be consumed, and the probability of being trapped is very high.) The trend will approach pairs like $AUCTION and #交易故事 #最近的一笔交易 .