Not making a good start to 2022 cryptocurrency markets focused on February.
Although experts expect the oversold pressure in January to weaken somewhat, it may take some time for Bitcoin to return to its old days.
While it is curiously awaited whether the market maker, who has sucked the blood of longs since November, will show mercy on the accumulated short positions, the general expectation is that there will be an increase to tighten the shorts.
The following glassnode We observe that the declines and rises experienced in order to squeeze long and short on the data follow each other.
Long-Short
The new target of the market maker, which has liquidated most of the longs by falling as low as $33,000, seems to be shorts.
Need a Volume Burst
Arcane ResearchNoting the recovery in the fear and greed index in .
“The fear and greed index briefly reached 30 on Sunday. This is the highest level in 2022. However, we prefer to see a nice increase in trading volume for a real rise.
bitcoin It is currently struggling with resistance at $40,000, if we break this level we could see a burst of volume. Until that happens, momentum traders may prefer to watch from the sidelines.”
*Not Investment Advice.