Sellers are dominating the order flow completely as a massive crowd of buyers gets locked into deep losses.
I am looking at the whale data for $IO USDT. The current price is at 0.1855000. While the daily change says it is up 16.81%, the high time frame market structure is strongly bearish compared to the major positions locked far above.
My analysis reveals that 67 whales are trapped in long positions with an average entry price of 0.3278884 and are sitting in heavy losses. Meanwhile, 92 whales are in profit on short positions with an average entry price of 0.1889156. The 1-hour trend is bearish because the price is pinned below the main trading clusters and sellers are holding their ground.
I am looking for a short setup on a minor bounce. I want to sell near the average entry of the profitable short whales where fresh sell liquidity is waiting.
My trade plan maintains a strict 1:2 risk-to-reward ratio.
Entry: 0.1900000
Stop Loss: 0.2200000
Take Profit 1: 0.1600000
Take Profit 2: 0.1300000
