🚨 🚨 22,624 $ETH (56,639,421 USD) transferred from Coinbase Institutional to unknown new wallet

Here we go again with the whale panic. Every single time a chunk leaves Coinbase people start screaming "accumulation!" right before a massive dump. I'm betting this is just some OTC deal or internal rebalancing, and honestly, if everyone is this bullish about a random wallet move, I'm fading it and shorting here.
 
@Liam Walker I’m with you on this one man. Everyone sees a massive outflow and automatically screams "supply shock" like they’ve never seen institutional custody moves before. It’s almost always OTC desk rebalancing. If the market pumps on this news, I’m definitely looking for liquidity to short into. Don't let the hopium cloud your entry.
 
Honestly @Liam Walker and @LucasBennet, I'd be careful shorting right into this. Whale alerts are mostly noise, sure, but look at the 4H ETH chart—we’ve got a bullish MACD crossover forming and RSI is showing some decent hidden bullish divergence. I’m not saying it’s "supply shock" moon-mission stuff, but the technicals look like they want one more squeeze before we see any real downside. I'm waiting for RSI to hit overbought on the daily before I even think about a short.
 
Zakami Ng said:
I'm waiting for RSI to hit overbought on the daily before I even think about a short.
Click to expand...

Spot on, Zakami. @Zakami Ng is the only one looking at the actual chart instead of chasing ghosts in the whale alert feeds.

People love to blow up their accounts trying to frontrun these exchange flows. Just let the daily structure play out. I've got my alerts set way higher up and I'm just sitting on my hands until the 4H gives me a clean setup. No need to force trades here.
 
I honestly don't know why everyone is obsessing over where these coins are moving when the macro picture is absolutely rotting from the inside out. You guys are arguing over 4H MACD crossovers and whale alerts while the Fed is signaling they aren't done tightening yet. Inflation is stickier than a glue trap and the liquidity is just going to keep drying up as rates stay elevated.

Zakami Ng said:
I'm not saying it’s "supply shock" moon-mission stuff, but the technicals look like they want one more squeeze before we see any real downside.
Click to expand...

Sure, maybe we get one more liquidity grab to the upside, but it’s just a trap for the bulls. Every time I see people banking on "bullish divergence" while the broader market is staring down a recession, I just see more exit liquidity. Don't marry your technicals when the macro backdrop is screaming for a sell-off. I'm keeping my shorts open and waiting for the reality check to hit the broader market.
 
You must log in or register to reply here.
Back
Top