CrediBULL Crypto

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@CredibleCrypto

*Tweets are my opinion, not financial advice* All OFFICIAL platform links and content are ONLY found on my website below.

Web 3 crediblecrypto.com Joined December 2017

3.1K Following 482K Followers 104K Posts

Latest posts 4

CrediBULL Crypto @CredibleCrypto 3h

The last time $BTC OI was at these level our flush came in the form of a short squeeze that pumped us from 62k to 80k in a few days.

My bet is they are gonna run it back again this time.

Short squeeze from 72k to 90k in a few days.

Daan Crypto Trades Verified account @DaanCrypto 11h

$BTC Open Interest (in BTC) is back at the highest level we've seen since 2021-2023.

Every time we hit this area during the past year, we saw a flush of open interest soon after. Usually this was due some sort of squeeze in the market which made the open interest top out.

Keep in mind, this says nothing about which direction that squeeze should be in. But in the majority of the other examples on the chart it did cause a reversal in the market instead of further continuation.

This makes sense as positions tend to build up during a trend. Then when that trend reverses you see those positions cover to take profit or get squeezed out. The other side of the trade generally already got washed out multiple times before.

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CrediBULL Crypto @CredibleCrypto 6h

Still a super underrated aspect of @CurveFinance's lending platform (LlamaLend).

On any other crypto lending platform, if the value of your non-stablecoin collateral drops enough because of a market dip, your position gets liquidated- and there is no coming back from that. Game over.

On LlamaLend, your position can enter a "soft liquidation" phase, which auto-converts portions of your otherwise volatile collateral into $crvUSD as price moves against you, protecting the value of your collateral and therefore your borrowed position to avoid a "hard" liquidation. As the market recovers, it converts that $crvUSD BACK into the original asset, (essentially buying back your original collateral with the accumulated $crvUSD) so that your borrowed position can literally AVOID liquidation during unexpected market dips.

Quoted tweet below is a nice demonstration of this feature in action 👇

Ivan Livinskiy Verified account @ilivinskiy 8h

So, my position was protected from liquidation and successfully exited the liquidation protection range. The whole experience cost me about $45 in wstETH, which went to arbitrageurs as fees for converting my collateral within the range.

Of course, it's better to avoid situations like this. I simply didn't manage to add more collateral before the price dropped.

I also repaid 100 ethereum:0xf939e0a03fb07f59a73314e73794be0e57ac1b4e of my debt yesterday to make sure my health stayed above zero throughout this period.

Everything is working as intended. DeFi will win!

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CrediBULL Crypto @CredibleCrypto 7h

Under the hood, we have a significant and consistent build up of OI on this entire grind down. Funding remains relatively neutral. This implies a build up of both directional longs and shorts on this grind down.

In addition, perp CVD is about to make new lows, while price is much higher than it was the last time perp CVD was at these levels- in other words- we have a lot of market sell pressure but price isn't moving down nearly as easily as before.

High effort -> Underwhelming results = not what bears want to see.

Focus remains on a larger move up rather than down in the coming days/weeks.

CrediBULL Crypto Verified account @CredibleCrypto 1d

Crypto twitter has collectively lost it's mind as $BTC trades *checks notes* less than 3% below the range lows that we've been watching.

Those untapped lower highs are not going to magically disappear and with this structure it makes zero sense to be positioning for downside here (unless you're already positioned from higher up or are using a very tight stop).

Was vocally bearish at high 80k's when most weren't, and now for me personally focus is on the next move higher, not whatever little downside bears are able to squeeze out of panic sellers at these levels.

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CrediBULL Crypto @CredibleCrypto 1d

And herein lies the problem with arbitrary moves above/below EMA's.

Apparently we are below the 200DSMA, but when I checked we are actually sitting right above it.

So then I checked the 200DEMA and I guess we are just below that now.

So if I want to make the case to be bearish I'd argue we are below the 200D EMA.

If I want to make the case to be bullish I'd argue we are retesting the 200 SMA which is holding as support.

Or, if neither of those support my bias, I can always choose between the weekly, monthly, 20, 50, 100, 200, or 365 EMA/SMA's to see which one supports the argument I want to make :D

Has to be more to your framework than "We are below (or above) X, Y or Z MA".

NBAComputerMan Verified account @NBA_ComputerMan 1d

@CredibleCrypto It broke below the 200 day ma… that’s what is freakin people out. No bueno.
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