How many times have we seen "a large investor bought bitcoins for hundreds of millions, which means that this is the end of a bear market"?
I want to tell you that this 100 million $ manipulator purchase was caused not to send bitcoin to the moon, but to again the crowd believe in the growth, invest their remaining money, and after drop close their positions at a loss.
On the chart, I showed an identical . In July, after strong growth, there was the news in the media that an Asian billionaire bought Bitcoin for a hundred million.
The crowd was , everyone shouted that if large investors were buying, then it was the bottom and the bear market was over.
And while the crowd was buying, this manipulator sold them his bitcoins .
The end of this manipulation you see on the chart. People closed their positions at a loss, but did not draw conclusions, and now they are repeating this mistake.
Now everything is repeated again.
Do not take a longs now, think without emotions.
As I said in the previous idea, we are waiting for the close of the weekly candle and in the coming days we will go into shorts.
Have a good weekend!
But I don’t see it play that way, we won’t go that low, $3.5k will possibly remain solid enough.
Good luck all!
If the 6.5k is broken , everything is possible!