CrediBULL Crypto Official

New Youtube video is now LIVE! A $BTC whale gets hunted, bullish absorption, and 90k+ within a month? Check it out ! Likes/comments appreciated, enjoy☝️ !

This one is for when people make the comment that "OI always rises when price does, if you keep looking for OI to drop then we're never going to move up. OI rising with price is normal..." Take a look at the chart below. THIS is what a healthy rise looks like. 1. Price going up. 2. OI flat/down indicating the rise in price is natural, and without aggressive participation of leveraged positions. 3. Perp CVD flat indicating levered longs are NOT driving this move. 4. Spot CVD rising with price confirming that this rise in price is driven by spot market buyers, which is healthy. For more context about the massive significance of this relatively small rise in price, check out my newest Youtube video here:

"...for now let's see if the ultra bull scenario DOES begin to play out (we will know in a couple days max) and then I can make a new update to follow." With developing PA, we now know that most bullish scenario depicted below is likely no longer valid. Hard invalidation was missed by just $100 but with a retracement this deep we can rule out a wave extension. I'll be making a new update vid tonight to go into more depth and detail about the implications. This one will focus exclusively on $BTC since most of the alts I covered are in the same positions since my last update. Stay tuned.

And there it is. $ETH ETF's have been approved. Muted reaction on $ETH thus far though, key an eye on our key levels as always.

While not technically invalidated yet, the "ultra bull" scenario is looking less likely to play out than it did yesterday based on developing PA. If that is the case, it means this local impulse is complete (rather than extending) and odds increase we see a dip to at least 62-63k where the other 2 scenarios I discussed in my last update come into play. I've reduced exposure on my $BTC long here as I can always buy back into strength if this region holds. Still holding alt shorts.

Zooming in for clarity- the asks (sells) in green were the ones that were filled, the asks in red are sitting on the books, yet to be filled. The drop in OI when the asks in green were filled indicate we had short covering into those asks- shorts closing, bull whale using that buy pressure to close longs of his own = OI drops significantly. This de-leveraging is always healthy at the end of the day and because the bull whale isn't market selling but rather letting buyers buy into his sales the price impact hasn't been as significant. Let's see how things develop.

Morning folks, just woke up and we have an interesting development. In the last hourly candle we have had a drop in OI of about 4,000 BTC, with chunks of 500 BTC on the ask side being filled at current prices. Another 4,000 BTC in asks layered directly above price. This looks like our bull whale capitulating.

So some more context on why I am giving the "ultra bull" scenario a bit more weight than I was during the video: If you take a look at BInance perps below which has the majority of OI. We can see our "baseline" is 64,000 BTC of OI. The "danger zone" is around 78,000 BTC which is where we are at. This is a difference of about ~14,000 BTC in OI that has been added on since our baseline. But we know that based on the heatmap analysis around ~10,000 of this OI seems to belong to one single bull whale entity. Yes, this entity controls nearly 70% of all the added OI on Binance perps since our baseline. What does this mean? If this entity can weather a 10-15% drawdown and is not going to capitulate, then the actual, available OI that may be easily washed out here is only about 4,000 BTC worth, rather than the 14,000 BTC worth that we would initially think. Of those 4,000 BTC, some are going to be directional shorts, not longs, so the actual available OI to squeeze on a move down is only a fraction of that 4,000 BTC (assuming the bull whale will not be liquidated). If you put all this together then it means (assuming bull whale has strong hands and not weak hands) that potential for downside from current levels may be more limited than we think and it makes the ultra bull scenario worth taking a shot on (imo).

So this is something I’ve been wanting to do for a while but was never sure if it would work out the way I had in my head so never pulled the trigger, but, I think I’ve got it figured out now. Going to start making “Lessons with Credible”, a new YouTube series where I break down important topics/concepts like risk management, options trading basics, etc in a “paper and pen style” video as if you’re being taught in class with explanations on a whiteboard. Going to pick up an iPad and an Apple Pencil just for this. Anyone have recs on what model I should go for? iPad Pro a good idea or should I go with the regular iPad/Air?