XMR's recent rally has been truly fierce. Yesterday, it surged in one go, and in the early hours, it even directly touched the key level of 800, followed by a correction. The days are tough for bears, with liquidation scales approaching $4 million, setting a recent record.

From a technical perspective, the details are worth careful analysis. The MACD still shows a bullish alignment, but the RSI has already surged to 95—definitely an extremely overbought condition. The long upper shadow on the daily chart combined with massive trading volume almost clearly indicates a high probability of a short-term correction or shakeout.

But the real insight lies here—look at the funding rate of perpetual contracts on a major exchange. This rate has remained positive and has never turned negative. What does this mean? The main capital hasn't loosened its grip; control remains strong. They are continuously generating upward momentum, relentlessly squeezing out traders who open short positions against the trend. As long as the funding rate stays in positive territory, the upward energy won't easily reverse.

So, the current situation is: chasing longs is no longer a high-cost option, and shorting? That's playing with fire. The real opportunity isn't just following the trend to buy high and sell low; it's about precisely timing the correction and waiting for a clearer risk control logic to find an entry point.

Many traders overlook one point—focusing on key data and real signals from order books is often much more effective than simply watching candlestick patterns. Wave rhythm, funding rates, large holder position changes—these reveal the true intentions of the market. The era of blindly following the trend is over; whoever can better interpret the market's real logic will be the one to seize the opportunity.