Onchain Edge Profile picture
Oct 29 8 tweets 3 min read
There is a high likelihood that $BTC will drop in the next 12 hours

Find out why👇
1. Two alerts were triggered today about high BTC inflow mean into exchanges.

This can cause a short-term $BTC price drop.

more info about this in the thread below.
The first was a mean of 21BTC. The second was 17BTC.
2. Furthermore, the funding rate is positive with rising open interest.

And a lot of stablecoins are being sent to exchanges (possible short positions)
How do we know that whales are distributing their coins?

When looking at @MI_Algos we can see that whales with $100k-$1m (blue) and $1m+(brown) are distributing their $BTC.
3. There is $22m of usdt at the $21k level.

It's possible that a lot of shorts are getting filled here.

The next important level is $21.4k with $10m usdt worth of liquidity. #firecharts
What does that mean for you?

Be careful with your long positions. You might consider hedging larger buys with put options.
I hope you've found this thread helpful.

Follow me @onchain_edge for more.

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More from @onchain_edge

Aug 20
The most valuable crypto skill in 2022:

➡️ Smart Wallet Watching 🧠

Master it, and you will 10x your portfolio!

These 5 free tools will get you started:
Debank - Look through the top wallets and see what chains most of the funds are on and which protocols these wallets use. You might find wallets that are early to trends.
debank.com/ranking
Hot contracts - This free tool allows you to find the hottest contracts on 7 different EVM chains.

Make sure to check tokens and #nfts before apeing, as there are a lot of scams.
hotcontracts.app/chains/ethereum
Read 8 tweets
Aug 19
What's the best way to trade the #Ethmerge?

Listen to this alpha-packed @StacksPodcast episode by Luke Martin @VentureCoinist and Kevin Zhou @Galois_Capital.

He covers many scenarios on how the ETH merge can play.

open.spotify.com/episode/3pBFF3…
Here are the podcast notes:

- Buy spot and long puts as its long volatility
- Buy spot short futures
- Remove lp and sell alts for eth to max ethpow.
- LP on ethpow 100% impermanent loss.
- Nfts might still have value on ethpow not 0
- Ethpow cryptopunnks original nft?
- Uniswap 1 might have value someone can buy uni and flip protocolfee switch on with governance vote
- move eth from l2 to layer 1
- remove nft sell orders before the merge
- lend eth on aave and borrow eth to get more ethpow (risky)
Read 4 tweets

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