Before we conclude that's bullish, it's important to note that whichever whale or institution is buying is buying much less than they were last month.
Same thing goes for Bitcoin and Ethereum. The whales are buying less now, even though the coins are cheaper now.
Possibly related, @SentimenTrader recently tweeted:
"In the past 7 sessions, stocks have suffered 3 of the largest bouts of concentrated selling pressure in history.
May 11: Largest all-time
Today: 5th-largest
May 12: 19th-largest"
Same thing goes for Bitcoin and Ethereum. The whales are buying less now, even though the coins are cheaper now.
Possibly related, @SentimenTrader recently tweeted:
"In the past 7 sessions, stocks have suffered 3 of the largest bouts of concentrated selling pressure in history.
May 11: Largest all-time
Today: 5th-largest
May 12: 19th-largest"
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.