btc 1d

24 Jan 2023

BTC has reached a strong resistance zone and overbought. I think that BTC can form an H&S, and the head can be everywhere in the green zone. What I can tell you is that I am sure this pump targeted short positions, and 25300 is possible to liquidate final positions and SLs. Let's forget about tech analysis and talk about a real situation. This pump showed that exchanges, especially binance, are not far away from bankruptcy. despite long positions, Short positions are nightmares for exchanges since they experience heavy loss during this process (if you do not know, you can ask why), and loss in CZ wealth indicates this. If shorting continues by whales and sends the BTC to below 10k, then be sure that binance will fall in trouble. I guess that this sudden pump, regardless of technical analysis, was meant to keep crypto alive with some outside help. Just do not FOMO, and do not get carried away by impulse movements. Be patient and wait for good news in the future and invest safely. We are not safe yet.