Bitfinex ETH/BTC Whale Indicator [Benson]
When the indicator is on an upward trend, it signifies that the whales are accumulating long positions in ETH/BTC.
Conversely, when the indicator drops sharply, it indicates that the whales are exiting their long positions in ETH/BTC.
Since 2017, the actions of Bitfinex whales have shown a significant correlation with the ETH/BTC exchange rate.
This is because the strength or weakness of ETH/BTC is strongly related to the altcoin season.
Using this indicator effectively can help you identify the cycles of the altcoin season and outperform most of the market participants.
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact bensonsuntw directly.
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Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact bensonsuntw directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.