The current price action reveals a significant imbalance in order flow as short positions dominate the landscape. With over 95% of short-side whales currently in profit, the downward momentum is supported by nearly $1M in trapped long liquidity.
The -7.10% dip has effectively cleared out late-stage buyers, leaving the market vulnerable to further downside if the current support fails to hold. Monitoring the volume profile at these lows is essential to determine if institutional shorts are beginning to take profit or if further distribution is imminent.
Are you looking for a reversal or expecting lower levels?
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