What does the charts say
There’s no significant spike yet on Bitcoin’s exchanges inflow mean. As of the moment, the charts are telling us only retail investors are moving in the market. Whales and big-money investors are still off-exchanges.
Usually, massive dumps and flash crashes happen when whales are the ones dumping. See the spikes in mid-May and mid-July last year? That shows whales’ involvement in the market price.
We may be seeing a downtrend at the moment but just follow where the money goes. So far, we are safe. At least for now. 😉
Also! Please see this interesting bullish divergence on the 1h and 2h timeframe.
Hopefully, the higher timeframes would print a bullish divergence soon, too.
Stay tuned for more updates!
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE.
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