The market direction index showed a slight recovery and indicated a bullish signal, but market traders remain cautious. The concentration of BTC short positions is on a downward trend, and today, whales tend to be closing their long positions while retail investors are engaging in upward chasing buys. The short-selling momentum has begun to decline, suggesting an initial structure for a long transition from the short-selling trend, and there is a possibility of a sharp rise in the market following the adjustment of the forces' volume (wash trading).
According to the whale alert distribution, distinct whale buying pressure has been detected for $PENDLE, $IP, and $XRP in the short term. On the other hand, tokens suitable for short-selling in the short term, such as BCH, ENA, and MYX, have been selected through the overheating condition filter. Among these, ENA and BCH show clear signals favorable for short-selling from a data perspective, so continuous monitoring is necessary.
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