$NIGHT is up 10% to $0.05204.
Volume collapsed 53% to $58.4 million .
If you've been trading longer than a year, your spidey senses should be screaming right now.
Price up. Volume down. That's divergence.
But the real story is underneath :
· Only 41.21% of top traders are long
· 58.79% are short (Long/Short ratio at 0.70)
· Short liquidations: $65,090
· Long liquidations: only $9,470
The double bottom formed at $0.04817. Neckline resistance sits at $0.06253 .
If price pushes through that neckline with this much short exposure built up, the liquidation cascade will take us to $0.07644 before most traders can close their laptops.
This is the definition of asymmetric risk.
The shorts are betting on rejection. The price is betting on continuation. One of them is about to get destroyed.
RSI at 47.55 not overbought, not oversold. Room to run .
Watch $0.06253 like your account depends on it. Because if that breaks, the people who are short right now are going to learn a very expensive lesson about fighting momentum with leverage.
Are you long $NIGHT or waiting for the breakdown?
The comment section separates traders from spectators.
