It's the result of my efforts to offer a simple presentation. A Possible scenario is shown in the chart. Stop Loss is your friend!
Technical analysis section:
The head and shoulders patterns are statistically the most accurate of the price action patterns, reaching their projected target almost 85% of the time.
My recommendation:
You can set a Buy order (10%) at $ 38k You can set a Buy order (10%) at $ 40k You can set a Buy order (20%) at $ 42k
For more details, See attached Idea.
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Crypto Exchanges Now Have 13% of the Total Bitcoin Supply
Bitcoin whales are moving their digital assets from crypto exchanges to wallets. According to the latest data published by Glassnode, a leading on-chain analytics platform, the overall Bitcoin balance on crypto exchanges has reached its lowest level since February 2018.
Crypto exchanges now have 13.1% of the total circulating Bitcoin supply. The latest plunge came after crypto whale addresses moved the world’s most valuable digital asset from leading exchanges like Binance, Coinbase and Huobi to unknown crypto wallets.
“Bitcoin exchange balances have returned to 13.1% of circulating BTC supply, winding back the clock on inflows to Feb 2018. The all-time peak exchange balance was 17%, hit on the exact bottom of the March 2020 sell-off. The trend changed that day,” Glassnode mentioned.
In July 2021, Bitcoin whale accounts transferred more than $1 billion worth of BTC from Coinbase to crypto wallets in three separate transactions. During the same month, Finance Magnates reported a significant drop in the exchange supply ratio of BTC.