A certain ZEC short position has placed $10.7 million in buy orders, planning to flip from short to long.

BlockBeats news, November 3rd, according to TradingBeats monitoring, a whale starting with 0x469e holds a ZEC short position worth approximately $8.041 million, with an average entry price of $1,180.11, and is currently in profit of about $351,000.

While holding a large short position, the whale has also placed buy orders below that exceed the size of the existing position. In the early hours of today, it added 99 standard limit buy orders in the $1,055–$1,100 range, planning to buy about 10,000 ZEC, with a total order value of approximately $10.775 million. ZEC is currently at $1,130.9, and the buy range is about 2.7%–6.7% away from the current price.

If all these buy orders are filled and there is no other position adjustment during the period, the account will first take profit on the short position, then reverse into a long position of about 2,889 ZEC.

Above, there is another trading plan. In the early hours of today, the account also placed 2,999 standard sell orders at $1,200, worth about $3.599 million, about 6.1% away from the current price, planning to continue adding to the short position after a rebound. If this sell order is filled first, the existing short position will expand to about 10,100 ZEC.