The short-selling trend of $NIGHT is now quite clear.
Technically, after soaring to 0.11924, it directly plummeted, with significant bearish patterns appearing on both the 1-hour and 4-hour charts, and the short-term moving averages have also been broken. The funding side is even more exaggerated, with short positions and net selling volume both surging, and the unrealized profit and loss of shorts among smart money is almost reaching -3.85 million, which clearly indicates that the main force is fleeing.
Moreover, it has a dark history of 'plummeting 90% on the eve of going online', and now pulling it up this high is just to unload. Once the trading activities conclude on the 25th, this coin is very likely to crash through the bottom. Short-selling now is following the trend, but be careful not to chase at the lowest point; wait for a rebound to the short-term resistance level (like near MA25 on the 15-minute chart) before entering, which is much safer.
