Market Update: Big exchanges flipped to bearish again indicating sell pressure. Matches to my prediction of smap pumping to upper levels to sell there. That's happening now. Only Okex maintains a bullish position and was the main driver of the recent scam pumps.
As soon they stop scam pumping in the market comes down to idle, the market volume is falling more and more. Matches to my past analysis related to market activity. Entities classified as market movers has dumped almost 30,000 #BTC already in few days. The biggest #BTC
holders are buying few thousands. That's part of their profile and did that all the way down, they buy to dump it afterwards at an upper price level. So, expecting some action here soon. #BTC has formed a bearish RSI divergence too.
Sorry... 🤷♂️🤦♂️
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Mid of June I have mentioned that I was expecting a shift to new lows as the market was reacting like in a re-distribution schematic, with poor quality rallies and only a rise in volatility in the beginning of the phase. But then June 26th something changed.
I have never understood what happend there. Now after months with more data and information in general, I think to know what let us flip from an uncoming dump to a new bottom to a quick accumulation from July 4th to July 20th. I have mentioned different times, that the pump
FTX - A strange chapter of exchanges reserves 🤣 Where are those 55,000 #BTC? You remember? I have talked about. However, of course involved in todays pump, everything else would surprise me 😂
Bybit - Purchased 3,100 #BTC with 6 days. But it wasn't involved in todays pump.
Coinbase - Is only selling BTC it seems 🤷♂️🤣
Kraken - Pushed the price in todays pump with 500 #BTC. Not big.
Huobi - It was involved in todays pump with 1,000 #BTC.
Binance - Sold 6,700 #BTC within 5 days. Sold 1,500 #BTC in todays pump.
1. #DXY crossed the resistance at 93 as predicted last week. 93.3 is our next little milestone before 94. If we cross 94 we will see a bloodbath. So, always check that.
2. Fake Rally. It can happen that whales start a bull trap.
At the moment I'm staying away. Will try to jump in when it reaches it's peak to short all-in again. They will buy a lot of #BTC to dump it afterwards again.
3. Situations can flip immediately because of negative headlines. Janet Yellen did it once and will do it again.
Who remembers here tweet that initiated a long liquidation of almost $9B. You remember? That wasn't coicidence, but part of Wyckoffs distribution phase. I think she will be more active in the next coming days/weeks.
Rules to trade safe:
Don't let you guide by fear
Use StopLoss
@Pastore1314 It exists, but that's not happening here. Almost every Twitter traders Wyckoff orientation is only based on internet illustrations. I have tweeted a lot about that, but... the "accumulation" crap is still alive. Wyckoff logic scheme has 4 phases
Accumulation means, buy and hold. No buy and dump afterwards. No data yet is showing that whales are accumulating, but selling with profit. Checking the aSOPR indicator, which indicates if the market is selling assets with profit, shows clearly,
@Pastore1314 that they have started to sell (almost 90,000 #BTC) with profit at a price of $31,500. Also the exchanges whales ratio shows a strong selling pressure. Now we can talk about re-distribution.
Characteristics: 1. Poor rallies 2. High volume at support and resistance restests
Market Update: Ufortunately I'm still reading some bullish tweets on twitter. I have mentioned several times now, that whales are buying to dump afterwards. That's happening since our big dump phase in May.
As long we don't have a clean regulation framework, big money will stay away. So, in my opinion traders telling you that whales are accumulating don't have any idea how institutional investors really work. As management consultant I have spend many years advising banks in
different matters, but in the last years mainly in meeting the requirements of the regulatory authority. When I tweet something it's my opinion, based on my experiences, but trust me, I'm honest always to you and I don't have any interest to let you bleed.