Whale Reaccumulation Zone?
Pattern suggests possible reaccumulation by a handful of whales on Bitfinex, where Longs skyrocket to all time highs on taps to the .618 and .65 retraces of the macro bull run which began back in April. Meanwhile funding rate on Bitmex remains fairly neutral, suggesting the Longs are from Bitfinex only.
A long squeeze, if it happens, may not kick in fully unless we break the local low of $6618 (on Bitfinex).
I remain short, but finding reasons to be careful.
A long squeeze, if it happens, may not kick in fully unless we break the local low of $6618 (on Bitfinex).
I remain short, but finding reasons to be careful.
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