While BTCUSD Shorts continue to rise, it is interesting to notice that BTCUSD Longs are at record ATH matching Dec 2019 and Feb 2020.
BTCUSD continues to remain undecided. It has been a month where trades are becoming unworthy if not too risky. Alts have lost more than 75% of this years ATHs, yet Alts don't seem to nudge on positive announcements either as traders are all waiting for a confirmation from BTC.
So what does this mean? Up or down?
1) Eventually one side of the margin traders gonna get burned; it is a clear battle between the bears and the bulls.
2) Any trade has got to be a hit and run, if at all to be entered. Anytime one sees a red candle, panic takes over. There's no maintained uptrend whatsoever.
Personally, I'd bit the farm on BTC going north from here. And therefore exchanged my USDT to BTC. If BTC goes down, I won't mind as I am still holding BTC. If BTC goes north, I am happy. And would consider swinging it if an opportunity proves worth taking the risk.
Feel free to express your thoughts, but make sure you DYOR first and foremost.
BTCUSD continues to remain undecided. It has been a month where trades are becoming unworthy if not too risky. Alts have lost more than 75% of this years ATHs, yet Alts don't seem to nudge on positive announcements either as traders are all waiting for a confirmation from BTC.
So what does this mean? Up or down?
1) Eventually one side of the margin traders gonna get burned; it is a clear battle between the bears and the bulls.
2) Any trade has got to be a hit and run, if at all to be entered. Anytime one sees a red candle, panic takes over. There's no maintained uptrend whatsoever.
Personally, I'd bit the farm on BTC going north from here. And therefore exchanged my USDT to BTC. If BTC goes down, I won't mind as I am still holding BTC. If BTC goes north, I am happy. And would consider swinging it if an opportunity proves worth taking the risk.
Feel free to express your thoughts, but make sure you DYOR first and foremost.
Unless you figure a way to make money while you sleep, you’ll work till you die.
Let’s breakout of this channel and leave this pit once and for all