Orange line: BTCUSD shorts postion on Bitfinex
Blue line: BTC price premium on Bitfinex compared to Coinbase
Red dotted line: Zero premium
Candles: BTC price on Bitfinex
Note the volume
There was a whale borrowed 25000+ BTC on Bitfinex, and started a huge sell-off from 34500 usd. He stopped when price went near to 30k, and started to buy back. The evidence is that there was heavily negative price premium on Bitfinex, and it turned positive after it hit the bottom. Today the shorts postion reduced sharply, along with a continuous price premium on Bitfinex, indicating the big short is buying back.
So I guess he failed. And the test after spring in Wyckoff accumulation phase C has just finished. Get ready for a decent bounce guys.
Blue line: BTC price premium on Bitfinex compared to Coinbase
Red dotted line: Zero premium
Candles: BTC price on Bitfinex
Note the volume
There was a whale borrowed 25000+ BTC on Bitfinex, and started a huge sell-off from 34500 usd. He stopped when price went near to 30k, and started to buy back. The evidence is that there was heavily negative price premium on Bitfinex, and it turned positive after it hit the bottom. Today the shorts postion reduced sharply, along with a continuous price premium on Bitfinex, indicating the big short is buying back.
So I guess he failed. And the test after spring in Wyckoff accumulation phase C has just finished. Get ready for a decent bounce guys.