Previously, we have repeatedly said that our expectations in the medium to long term are exclusively bullish and the market is now only at the initial stage of growth.
At the same time, in the short term, during this or next month, we expect a serious correction, the purpose of which is to take assets from weak hands.
❗️ Let us repeat that you do not need to sell your assets during correction. The main task is to keep them in your portfolios.
🕯 Technical indicators
In previous posts, we wrote that according to all technical indicators, the market is strongly overbought.
But there remains 1 important indicator, which indicates that the rally without correction from current prices will continue for some time.
The picture shows a graph of the influx of $BTC BTC to exchanges 🔍
As you can see, historically, whenever there was a strong influx of Bitcoins to the exchanges (black line), the market collapsed (red line).
Currently there is no trend towards withdrawals from personal wallets to exchange wallets, which means that the growth from the current ones is likely to continue for some time.
✔️ Why does the indicator work so accurately?
Everything is banal and simple. If people transfer large sums from their personal wallets to exchanges, then obviously they do this for the purpose of selling.
In the last year and a half, there has been no influx of assets to the exchanges, which is why there has been growth with virtually no pullbacks recently.
This is the last technical indicator that indicates a continuation of the rally, but remember that all other indicators are already screaming about the market being severely overbought.
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