Retail are net long.
The counter argument - 'Yes but longs were rising into the previous rally Mr Scarface shuddupa yo face.'
Sure they were but retail were net short at the literal bottom and the relief rally squeezed shorts like a lemon and ultimately triggered a non stop pump through decimating liquidations. Difference now is shorts ain't playing ball....
Price has pulled back on the H1 and closed the liquidity gap to the downside (red circle). Sitting on top of Daily support buyers have stepped in and closed the inefficiency to the upside. Typically these are used as resistance on the way up and price continues in the direction of the macro trend. This hasn't. Now - Price is holding support above and quite often...
Wanchain looks ready to move like ICX has and various others. Consolidation grind above the yearly open & above the daily open.
Little bodied candles on the daily often lead to explosive moves higher.
My entry 927.