Quick Take
- US banned Tornado Cash. 3 early signals can be used to sense something bad is happening.
- MULTI +12.9%. 3 signals to validate the long-term uptrend. Do aware of the short-term retrace.
- SHIB – Bullish CEX Flow indicator.
Tornado Cash - 3 early signals to sense something bad is happening.
The continuous large amount of TORN was deposited to CEXs starting at 16:00UTC Aug 8. When people deposit a token from his wallet to CEXs, most likely he would want to sell.
TORN CEX balance suddenly increased 85.6% on Aug 8.
All the large amounts of CEX flows are deposits. ALL in RED.
It indicates that traders lost confidence in the token and transferred it to CEXs to sell.
3 signals to validate the MULTI long-term uptrend. But do aware of the short-term retrace.
Applying the “How to use Turnover Rate to validate an uptrend” trader tutorial we shared before, combining Trading Vol, Turnover Rate & Net Buy Amount, we can validate the MULTI uptrend.
Trading Vol reached 3M ATH on Aug 4.
The Turnover Rate reached 3M ATH on the same date Aug 4. The Net Buy Amount on Aug 4 is also positive, with a net buy value of $655k.
Do aware of the short-term retrace.
See the chart above. The Net Buy Value surge on Aug 8 pushed the price to $7.34. Compared with Aug 8, the Net Buy Amount of Aug 9 is fading.
The Net Buy Amount is a practical indicator of understanding the buying power. If the price goes up to break the previous high point, the buying power will need to be greater than before to support.
SHIB - Bullish CEX Flow Indicator
The Net CEX Outflow formed a positive peak at 04:30UTC Aug 9, indicating tokens are withdrawing from the centralized exchanges to hold or stake.
Take a closer look at the real-time CEX flow movements.
See the change from large deposits to withdrawals!
19 hours ago, a large value of SHIB was deposited to CEXs.
In the near 10 hours, $5M value of SHIB was withdrawn from Binance. Indicating these two SHIB whales tend to hold.
