HYPE has finally dropped back to around 54. Although it tested this level in June, back then it bounced back quickly after the plunge—this time is different. Starting at around 70 at the beginning of the month, it failed to break higher and has been gradually declining since, with trading volume steadily shrinking. Now, I’ve noticed that smart money positioning is starting to resemble June again: shorts are slowly decreasing, while longs are gradually increasing. Will it bounce again this time? I don’t know—but I’m not willing to catch the falling knife right now. If it can’t hold at 52, I’d rather wait longer. https://t.co/37QmEAPI4n
Mr.CoffeeShare
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