BTC/USDT overview
Hey, traders
Well we are back to our father-coin BTC here. Well recent few days have been pretty interesting don't you think where from correctional movements the market turned into liquidation hunting area.
Well let's talk from emotional side: First thing first way too many people (Including us as well) were shorting a good amount of BTC at the bottom which resulted a good chance for whales to buy and squeeze the money from people who don't follow good risk management. Another thing we noticed is that a lot of bigger wallets have exchanged their assets mostly into Stables like USDT or BUSD etc so people are getting ready for another good possibility for a drop.
And last of one - thanks to recent FTX problems most of exchanges changed their assets into stable coins and have not bought any BTC or Other coin yet which can mean that they are still waiting for another drop!!
Now let's talk from Technical side: Well first thing we see on 2h chart is how Head & Shoulder pattern is forming slowly and has reached at the top of this pattern. Also on the other hand we see how widely spread is the BB indicator which usually means we might have a day of sideways movement before next major step.
So overall we are still bearish and 2hr chart was used just for you to get a closer look at smaller chart. If you want to see better view look at that trend-line on 1D chart
If you like ideas provided by our team you can show us your support by liking and commenting.
Yours Sincerely,
Swallow Team 🔱
Disclamer:
We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
Well we are back to our father-coin BTC here. Well recent few days have been pretty interesting don't you think where from correctional movements the market turned into liquidation hunting area.
Well let's talk from emotional side: First thing first way too many people (Including us as well) were shorting a good amount of BTC at the bottom which resulted a good chance for whales to buy and squeeze the money from people who don't follow good risk management. Another thing we noticed is that a lot of bigger wallets have exchanged their assets mostly into Stables like USDT or BUSD etc so people are getting ready for another good possibility for a drop.
And last of one - thanks to recent FTX problems most of exchanges changed their assets into stable coins and have not bought any BTC or Other coin yet which can mean that they are still waiting for another drop!!
Now let's talk from Technical side: Well first thing we see on 2h chart is how Head & Shoulder pattern is forming slowly and has reached at the top of this pattern. Also on the other hand we see how widely spread is the BB indicator which usually means we might have a day of sideways movement before next major step.
So overall we are still bearish and 2hr chart was used just for you to get a closer look at smaller chart. If you want to see better view look at that trend-line on 1D chart
If you like ideas provided by our team you can show us your support by liking and commenting.
Yours Sincerely,
Swallow Team 🔱
Disclamer:
We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
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