$pippin will be decided tonight, and I’m still leaning bearish.

But regarding this coin, I advise everyone not to rush in with everything you’ve got just yet. I’m dead set on shorting it, but this isn’t the right spot to go all in. I missed out on the early move, so I pulled out when it retraced to my entry price. Now my hands are itching, and the candlestick chart really does look like a textbook bearish setup, but have you noticed? The funding rate is climbing again.

What does this mean? It shows that everyone in the market has picked up on this “short signal,” and people are piling into short positions like crazy.

Think from the perspective of the market makers: You’re planning to dump your holdings, but then you look at the open interest—well, before you even make a move, retail traders have already stacked up the shorts. In this situation, would you just proceed as planned and crash the price? Of course not. What’s the optimal play for the market maker? Pump it first!

Why? Because only by pumping and liquidating all those bandwagon shorts—triggering their stop-losses (which are buy orders)—can they offload their holdings smoothly using that wave of forced buying.

Right now, though, it’s mostly small shorts piling up, not many big ones, and there’s still a thick layer of long positions below. So even if there’s a pump, it probably won’t be too crazy.

Remember these two iron rules:
Market makers never look at candlestick charts—they watch backend position data.
When the bus is overloaded, the market can’t drop unless the bandwagon traders are shaken out first.

You can short now, but don’t use high leverage and set your stop-loss a bit wider to be safe.