BTC/USD: 1 hour: -0.74% | 2 hours: -0.89% | 6 hours: -0.74% | 12 hours: +1.43% | 24 hours: +2.34%
Binance - what happens?
As some of you have noticed, we currently send very few signals for Binance and for 2 days none at all. The reason is due to current global market behavior. Specifically, this was noted at Binance.
Why so less movement?The current bitcoin price moves more sideways than up or down.
The majority of traders are unsure how to react. Should they wait, should they rather invest in tether or BNB, or even in ETH?
The main part is waiting. On average, 98% of all currencies on Binance reach a maximum of 1.5% profit at the moment, before falling again. This is not enough for high-quality signals and the danger for the users to get in on the peak of the small profit is big.
Therefore, our signal engine is currently generating no buy signals for Binance, for safety! This has the advantage that the users do not carry bags and unnecessarily risk money.
We also saw signals from other signal providers for Binance in recent days and found that while sending some signals to Binance, they still generate 1.5% profit after 24 hours on average. This is clearly too small, considering the entry point, the exchange fees and the mostly not very conservative profit targets of the users. Therefore, as always, we focus on quality instead of quantity. Please keep in mind that this situation only applies for the moment and is subject to change at any time.
Therefore, as always .. if few signals, then caution is required. The market has little movement and it does not recommend to trade in Alt's.