Data Corner: $ETH & The Dangerous Trap (ETH ETF) ...
"Please read it before saying anything"
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On the $Data side of Future:
- When the market flew in surprise, $ETH turned into a unicorn with a breakthrough of more than 20%, it was surprising that the data recorded that the Short rate was gradually becoming more overwhelming.
"Are investors gradually closing their short orders?"
Looking at the remaining data, it can be seen that around the time the short rate began to increase, OI also opened in large quantities.
-> So the long ratio is gradually decreasing not because of order closure but because of strong fomo defensive shorts. And this has led to a familiar consequence of increased liquidation above. Attractive prices scan & absorb these fertile areas. And this is just the perspective from Future.
Second is the data perspective from the Options market.
- The current area of $ETH's 3k7 mark is the realized price area with the strongest volatility from many expectations and different maturity dates.
- In other words, once we leave this fighting zone, it will be a very strong increase or a very sharp decrease.
- Right at the time when $ETH was galloping, there were 2 Option positions opened that expire on May 31, with the maturity value of both being more than $250m.
(So that everyone can imagine how big this order is, imagine that just now the largest single purchase of $ETH on the exchange was just over 53m$.
ETH/USDT [Binance]
Big Whales Buy Activity ✳️
16.5K ETH have been bought
💰Price: 3,300 USDT (4.86%)
🚨Order Size: 53,067,737 USDT (5.00%)
⏳Duration: 15 minutes
📊24h Vol: 1.06B USDT
...$ETH will rise above the $3720 mark. Because only when they pass this milestone will they start to make a profit. And the peak profit mark will be somewhere around the 4100-4200 mark.
- Even though $ETH is currently around the 373x$ mark, with Luong's experience, just breaking even is not enough motivation for them to close the order.
-> Whale is setting up for a push
// Combined with the gradually fomo short story, forming dense liquidation zones as analyzed above. So this is...
..."a dangerous trap for the short side"
Which is also our focus today.
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And if you think from another angle, the market will sooner or later receive positive incentives in the near future.
"So in the midst of that situation, what should we choose to do?"
=> Let's wait for the ETH ETF, AE.
