#数字货币市场洞察 $PIPPIN The recent liquidity situation is quite interesting.

I looked through the on-chain data and found a pretty extreme phenomenon: from 5 minutes to 7 days, the net capital inflow at every time frame is positive. This kind of full-cycle consistency is uncommon and usually means that big money is steadily building positions.

Even more striking is the long/short liquidation ratio—in the past hour, $446,500 in shorts were liquidated, compared to just $34,400 in longs. A crushing 13:1 ratio. Every time the price pushes up, it’s fueled by forced short liquidations—this kind of short squeeze momentum is really hard to reverse in the short term.

Market sentiment is also bullish. Global position data shows 55.5% of people are going long, so a consensus trend has basically formed.

But the problem is also obvious: RSI has surged to 81.2, which is severely overbought from a technical perspective. Chasing directly at this level? Not very rational.

If you’re truly bullish on this coin, a safer approach is to wait for a pullback. Here are some possible technical levels to watch:

· 0.1740-0.1780 range: recent high-volume trading zone, first support area
· 0.1620-0.1660 range: near the trendline, ideal spot for a deeper pullback
· If it drops below 0.1540, the logic needs to be re-evaluated

To the upside, short-term resistance is at 0.1883. After a breakout, it might test the 0.2000 round number, and above that is the 0.2050+ area.

At the end of the day, in a bull market, what sets people apart isn’t how much you make at the top, but whether you dare to buy during a pullback. Of course, this is only if you have good position management and stop-losses in place.