InspoCrypto 4 minutes reading from Bitcoin

Hitting Higher: Whales on CME Retesting BTC

Just another quick update. Whales Ratio 30D MA finally declining! Too early to say if that's the top, but at least confirming what I said yesterday, sell pressure is reducing. MM entities reduced their balances again by 20k BTC withtin 2 days.


Hedge Funds on CME shorting more BTC than longing. I have checked their performance. Are Hedge Funds better in longing or in shorting? My analysis shows that Hedge Funds are much better shorting BTC. From 6 times where they longed and shorted big at the same time, only once the

price went up. So, only one time their longs were successful! Also related to volume are shorts much bigger than longs. Their peak in volume related to longs were 04/13/2021 with 944m while they shorted at the same time with 2.42b! Similar case 26/10/2021 where they longed

with 960m but Hedge Funds also shorted here with 2.91b! Contango/Backwardation trades including here I guess.

Anyway, the last CME report indicating, they placed 80m in longs since the last report and 110m in shorts (report date 11/15/2022).

Imo even if we can go up a bit heading 17k (maybe even 18k) we are not done here it seems. A possible up scenario also confirmed by the Balance on CEX as they are lifting up again. Usually that indicates another preparation.

Also a big liquidity wall waiting between 15.3k - 15k. Everything below of 15.6k could let the price start to dump aggresively, because its the last line of support before 13,650. If we break that one triggering all the buy orders, 16,650 would be inevitable. Only with a nice

retest after breakout I would short. Otherwise bear trap to liquidate late high leverage shorts. Trade careful! Ok, this time the update wasn't that "quick" 🤣 "Inspo Quick" 🤡🤐😂

One last information. Even big guys have started to sell (almost 200m) again. If that's an institutional to dump the market, good luck. No big wall will stop that. They still have 800m of those accumulated 1b (since 11/09/2022) left. Provided by @Mtrl_Scientist

"If we break that one triggering all the buy orders, 13,650 would be inevitable." 😖

Chart provided by @BTCInOutAlert

CME Futures Chart provided by @TheBlock__

This post is based on this twitter thread.


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