Winning buyers are holding their ground while short sellers are facing heavy losses.
I am looking at the whale data for $LAB in the file 1000010936.png and the trend is very strong.
I noticed that 217 whales are in long positions and a huge 91.70% of them are in profit.
These buyers have an average entry of 3.42 and are currently up over 22 million dollars.
On the other side, 48 whales are short and almost all of them are losing money right now.
The sellers are trapped with an average entry of 4.10 while the price has moved much higher.
My plan is to follow this buying power because the sellers might be forced to close their losing trades.
This usually leads to more buying which keeps the upward move going.
I am waiting for a small dip to join the whales who are already winning.
Trade Plan:
Type: Long
Entry: 5.75
Stop Loss: 5.45
Take Profit 1: 6.05
Take Profit 2: 6.35
