It's all in the chart folks. Since we broke 7k where all the short stops were collected, there's not much left to do except a really big dump
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as of now, the correlation with the chart below is 1:1, exchanges doing exactly the same, massive sell off on bitmex with fake 5m price support
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Ouch, 8 hours later the charts are so simillar, it's getting scary. If history repeats itself, whales stopped dumping to let the market self-correct up to 6800 for next 3-4 hours and grow some buy orders. then whales will continue the dump and finish the bart pattern
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indeed, the price is being held high, still on top of the bart pattern. However, we're getting a 2 days longer bart pattern, which is actually a really good news for bears, because these are the weekends when main markets like cme are closed. if we'd go down now without the other markets and with a cme gap, the move wouldn't have much significance. But it looks like we're on a verge of a trend reverse. can't advice anything except short at 6799 or 6899. stop at 6810 or 6920 to your liking. no actual targets because we can go sub 4k this month. moving the stop-loss down would be a good idea
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alot of people on tv expect immediate moves from btc. well as i wrote yesterday, we're not moving anywhere on weekends. we need main markets to open first. expect a real end of the pattern on monday. if we won't go down by then, i'll admit this idea was invalid and whales tricked me. as for today, the price will swing around 6800 (price where cme closed), and going slightly above it before the crash starts
@BTC_maximalist, yeah, all the short stops were collected above 7k level, breaking it seem to be kind of the final trick in the scheme as there's no short positions left. Ofcourse, the game could be played further to 8k, but given the current situition in the world, i'm not sure if this would be particularly profitable. What I'm sure about is that if we won't hold at 7k levels, the only thing left will be a really big dump
felipeprenholato
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I waked up thinking: BTC has no strength yet to go over 7k/7200k and keep it in place....
You are right. I watched the price action today after I saw this, and now I agree with you. This is the exchanges manipulating what we are seeing. I can see it when comparing where support and resistance were reached on candles to heiken ashi. Still confusing as there could be a tether pump? Apparently billions in tether were printed (just based off the comments I've seen on here, and this could be untrue)
Vadim_Fedenko
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@unapologetic01, over 1.5 billion dollars worth of tether were released @ march 31 at btc $6400. then april 6 $150 millions more at $7000. next day we got to $7450. i don't think they're going to release more coins though
Vadim_Fedenko
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@impoimpo, for the coming months at least
UnknownUnicorn2675383
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Would you say you were completely wrong and your analysis was ridiculous??