$GPS After a 30% violent surge, there are clear signs of distribution at high levels. The price diverges from open interest (OI), and the Taker's selling volume dominates, which is a typical short covering + main force unloading structure.
🎯Direction: Short
🎯Entry: 0.01245 - 0.01255
🛑Stop Loss: 0.01300 (rigid stop loss)
🚀Target 1: 0.01120
🚀Target 2: 0.01000
The 4H level completed a three-candle expansion upward, but the last K-line buy/sell ratio has dropped to the equilibrium point of 0.5, indicating exhaustion of chasing high purchases. Key data: 1) OI levels off at new price highs, indicating the rise is driven by short covering rather than new long positions; 2) Deep negative funding rates (-0.5%) expose a large amount of unstable long leverage, which can easily trigger a liquidation; 3) The order book sell orders (Asks) have accumulated a large volume above 0.01251, forming a clear supply zone. Logically, this is a 'short squeeze' followed by a 'long trap', with the main force distributing at high liquidity levels.
Trade here 👇$GPS
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