Edris2021-12-02

Remember the last time reserves rising was the main social media trend?

I tend to analyze the last time a significant thing happened ,in order to identify patterns and make better decisions. The significant thing I'm talking about right now is the massive rise in exchanges reserves. Everyone talks about it and fear has taken over the market once again. But what happened the last time that exchange reserves rose rapidly while market sentiment was bearish? I've decided to compare July 2021 bottom (28K) to the present situation. As you can see, back in July, exchange reserves rose massively and fear took over the market. The most conservative bearish targets were $24K. But do you remember what happened next? It was the price bottom and BTC rallied more than 100% from there. Right now, sentiment is bearish and people are scared (not that much, but most people are). Reserves are suddenly rising and everyone is talking about it. Could this be another bear trap? It's also interesting that only derivatives exchanges reserves are rising this time.