whalehunter
whalehunter 2 minutes reading from Bitcoin

Warning: $BTC Will Drop in the Next 12 Hours

There is a high likelihood that BTC will drop in the next 12 hours

Find out why👇

1. Two alerts were triggered today about high BTC inflow mean into exchanges.

This can cause a short-term BTC price drop.

more info about this in the thread below.

Onchain Edge on Twitter

The first was a mean of 21BTC. The second was 17BTC.

2. Furthermore, the funding rate is positive with rising open interest.

And a lot of stablecoins are being sent to exchanges (possible short positions)

How do we know that whales are distributing their coins?

When looking at @MI_Algos we can see that whales with 100k-1m (blue) and 1m+(brown) are distributing their BTC.

3. There is 22m of usdt at the 21k level.

It's possible that a lot of shorts are getting filled here.

The next important level is 21.4k with 10m usdt worth of liquidity. firecharts

What does that mean for you?

Be careful with your long positions. You might consider hedging larger buys with put options.

I hope you've found this thread helpful.

Follow me @onchain_edge for more.

Like/Retweet the first tweet below if you can:

This post is based on this twitter thread.

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