consolidating above supply block, what comes next ?
funding extreme high but the spot catching up futs.
spring and terminal shakeout are two simirar events which occur during the development of an accumulation range. But there is another variant ; the Ordinary shakout, which is defined as a strong bearish push without extensive prior preparation that occurs during the development of an uptrend (reaccumulation). The ordinary shakeout is characterized by wide price ranges and an increas in volume. However, the volume can be high ,medium or low.
there is no evidence of supply nor demand on spot market.
also open interest is keep stacking on derivatives,
crazy high funding without too much sell pressure on spot market.
why derivatives driving market,
according to onchain data there is no supply in the market atm.
so whoever it is (mr.marker maker, the compositie man), driving market thru derivatives until they meed enough demand on spot market that they can dump on their bags. we don't know where, and its not about shake out more to reversal sometime this year. market is on edge again.
it would hard to tracking supply if market driven by derivatives.
because that dump (whenever it comes) will be more likely
"bit of spot sells" + "lots of unwinding in derivatives"
coinbase listing tmr
liquidity void around 58k
possible low swept, clear all the high leverage longs
short close rally ( buy back )
oi , cvd divergence on the way.
not sayin this will happen,
but consider this if we facing mark up.
im holding spots hedged with margin short.
So question is we get other dip?
we go higher soon this week.
i expect it would be last leg up in phase 1.
eth/btc break up , last leg up with major bull market doesn't sounds too bad.
try reduce your exposure, a very last shake out and last leg up.
after leg up, we might face few months retrace