Not that we are at the bottom yet, but whales are beginning to accumulate. I believe there will be more downside over the next few weeks. but when this is up 32% already today, somebody sees this as a buying opportunity.
notice the pattern, 2 large buying days plus 40 days from the first large purchase date, has signaled a local ETH bottom.
Notice the ETHUSDLONGS vs ETHUSD
When the longs close their positions rapidly, this has indicated the local top is completed.
And as you can see the longs have rapidly closed. Prepare for a local top in ETH.
Welcome Hyperspace Travelers,
Hope you were not caught long at 12k... Ooooof..
You should probably check out ETH.USD longs...
Just look at all the death fuel.
The Fuel for the Black Swan Event for crypto lies in ETH.USD Longs...
It will lead the death march with Bitcoin..
Please See latest....
Too many new longs trying to make some money back on the bounce. Very easy for the whales to squeeze this and they probably will. BTC doesn't seem to have the same issue at present with longs to shorts at a fairly low rate so could see just an ETH tear down.