Maartunn Profile picture
Aug 8 6 tweets 3 min read
Whale closed 300.000 Long positions on Bitfinex😱

Let's find out WHY this is important and WHAT it could mean for the market 👇

#Bitcoin #Ethereum #Crypto #Bitfinex #Futures
ETHUSDLONGS, a chart on tradingview which displays the total amount of open Long positions on Ethereum at Bitfinex. This metric has a major change in the recent data which is very important to be aware off.
The amount of ETHUSD Longs has been reduced with ± 300.000 (!!). That is a massive change on it's own, but it becomes more important when we take a look at historical data.
Let's give an overview 👇

July '21: Top was formed directly after closing. A pullback of 24% took place.

Nov '21: Top formed immediately. Price pulled back 50%.

March '22: 18 days before local top. Afterwards a 71% pullback happend.
Aug'22: 6 days so far. Will it mark a (local) top again?

Only time can give an answer to that question, but from a historical perspective, I am (and remain) conservative.
Want to read more analysis on the cryptomarket?

Make sure to follow my account @JA_Maartun. Thanks 💪

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More from @JA_Maartun

Feb 15
1 // #Bitcoin Top Signals 😬

It is weird to speak about top signals when price is trading at 40k. But I think it is important to be well prepared for the coming bullrun.

Let's summarize potential top signals. The more you'll see, the more top-ish. Let's go 👇
2 // Lets start with heavy positive netflow to exchanges. This means that Bitcoins getting deposit to Exchanges, likely to be sold 📉

3 // Spike on Coin Days Destroyed. This gives insight how many old coins are being spent. The 90D Moving Average is the sweet spot 🍬

Read 20 tweets
Feb 13

A lot of bullish charts are out there. Here are the most important ones 👇
2 // BTC Price is in a multi year uptrend Image
3 // BTC Netflows (30D MA) showing a re-accumulation period Image
Read 13 tweets
Feb 13
1 // $BTC

Arguments can be made for both sides

In this thread all arguments which can be made for the BEARISH-case.

Read it down below 👇
and sure to follow to don't miss the BULLISH one Image
2 // Price is at weekly and monthly resistance (based on TA) ImageImage
3 // Exchange Netflows almost crossing to positive (after a deep dip) Image
Read 14 tweets
Jan 11
1 // There are serveral data sources where you could base a trade on. The few I use are:

1️⃣ Price Action
2️⃣ Orderbook
3⃣ Futures market
4️⃣ On-Chain
5️⃣ Sentiment

The perfect long setup is when all this sources point to the same direction.
2 // Let's go back to July 2021 and see how this works: Price Action

A very strong technical setup is a close below/close above. In this example price closed below the weekly support level at $32k and the week after closed above. This is bullish and gives a clear invalidation.
3 // Orderbook

In the orderbook is valuable information on how many orders are placed at a certain price level. Here is a screenshot and please mark how many orders are hovering around that 30k area. Clearly bullish.
Read 9 tweets

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