How is oil going to break crypto wedge
Takeaway
- Summary: Analysing holders behaviour to find out possible direction of next market move.
- Assets covered: ETH, USDT
- Metrics used: Top Holders, Miners Balance, Holders Distribution, Debt created, MVRV, Social Volume
Yesterday's emerging trends revealed some kind of consensus.
We are seeing a wedge which is going to be broken soon.
In which direction?
Let's see.
- 1. ETH Top holders:
The biggest whales have been dumping recently. And actually been dumping quite hard. Meanwhile we are not finished yet.
As can be seen in the middle of the chart - whales will initially dump, then retail will kick in.
2. Miners balance:
This is the same pattern with top holders. They start selling before we reach the top. Of course they tend to sell a lot at the top too. But the process starts before. And looks like
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