$SUI Something quite bizarre just happened: in the past hour, long positions were liquidated for $183,000, while short positions only saw $4,000 liquidated — this 45:1 ratio essentially means longs are slaughtering themselves.

But guess what? While longs are bleeding out, 52.8% of the entire network still chooses to go short. These people seem to be celebrating victory on the ruins, unaware that they might be standing on a bomb that could go off at any moment.

Why do I say that?

First, at this level of mass liquidation, panic selling pressure may have already been largely released. The longs that needed to exit have exited; who has the chips left to continue pushing the price down in the short term?

Second, with over half of the short positions clustered together, this itself creates a potential reverse fuel. Once the price rebounds, these crowded short positions are very likely to be collectively triggered.

Looking at the emotional and structural dislocation: the market has just experienced a stampede, emotions are at their freezing point, yet short positions are at their most crowded. Such a torn state often leads to chaos in history.

If you're looking for opportunities, you might want to focus on the $1.598 - $1.610 zone. This is where panic is the thickest and could also be the starting point of a rebound.

The rebound targets could be around $1.650 - $1.660 (the first dense area of shorts), with more aggressive targets at $1.680 or even $1.750+.

Of course, if it breaks below $1.580, then it's a different story — time to admit mistakes.

Trading is sometimes about understanding the cracks between market sentiment and structure. Right now, the cracks are right there.