The market just put on a textbook retreat. That ultimate short whale, who had been battling in the derivatives arena, suddenly backed off—closed a $30 million short position in one go, pocketed over $3 million in profit, and moved with the precision of a well-trained sniper pulling the trigger and then leaving the scene.

But don’t start applauding just yet. The real excitement is still ahead.

What happened in the past six hours? As soon as BTC touched $92,000, this whale started aggressively closing shorts. The data is clear: $30.17 million in shorts closed, $3.86 million profit secured, and still holding $17.6 million in unrealized gains. Then came an even bolder move—he transferred $40 million in margin to a top-tier exchange and added another $3 million today to keep closing shorts and raise the average entry price. Guess what? The liquidation price jumped directly from $94,800 to $101,000.

This maneuver is intriguing. Shorts fear rising prices the most, but this whale kept closing shorts as the price climbed. Did he sense a shift in the wind? Or is he just taking profits and exiting? When even the shorts start to back off, is this rally truly a bull market acceleration, or just a false prosperity?

Now let’s look at the technical side. The candlestick chart reveals a lot:

The current price is at $92,642, just over a thousand points from the rebound resistance level at $94,000. Looking higher, the major resistance at $98,000 looms like a mountain; looking lower, key support is at $90,000, target pullback support at $88,500, secondary support at $85,000, and bottom support at $80,700. The entire price structure is as clear as a level map in a video game.

The MACD indicator is even more interesting. The yellow and white lines just formed a golden cross below the zero line, green and red bars alternate, and the two lines are trending upward—this suggests short-term buying pressure is building.

So here’s the question: whale retreat + improving technicals, these two signals showing up at the same time—how do you interpret this?

BTC-0.6%

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Frontrunner

· 12-03 08:51

I've seen this kind of whale rug pull before, it always feels a bit weird. All the shorts are pulling out, what does that indicate? We need to be wary of a sudden drop. Between 92,000 and 98,000, it feels like a stalemate—let's see who gives in first.

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