There it is...rally to 8400 and now another reversal.
The_Expat
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It's coming in for a landing.
The_Expat
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BTC is showing it's on it's final approach. Structure is formed for a large drop now and setting up for a reversal.
The_Expat
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And there you have it. How far it goes only has to do with where the money is at.
The_Expat
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These reversal patterns are visible on all time frames.
aknyc1
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Even though these are all whale pumps if it keeps going the way it’s gojng it can go to 8300
The_Expat
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@aknyc1, Interesting idea calling this 'Whale Pumps'. In the currency and commodities markets the people who can move the markets I call Dynamic Traders. Knowing who these 'Dynamic Traders' are (non-specifically) and what they are doing (historical price action), then identifying the Retail Trend (the false trend), can give you a trade. Nobody can read the minds of those Dynamic Traders. However, when you learn to read the price action and evaluate the market as it relates to these Dynamic Traders, it shows clear direction. I never care or have a bias about any trade. I trade when I see clearly what the Dynamic Traders have done and identify where they're most likely going. Then, I wait for my trading strategy to provide the signal to execute the trade. I see a short in the Daily, H4, H1 all lining up. So, the trade signal will be to the downside. Cheers!
aknyc1
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@Dr_Cryptozilla, well it all about timing now...if within a day or 2 we breakout of 6800 and go to 7000s then it can go to as high as 8300 depending on the break out..i would not short anything now..and it hasnt rolled over as stated in title yes it can but these traders are holding it up and have targets to reach..
The_Expat
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@aknyc1, as I told you it is rolling over. You need to learn how to see these types of reversals.
aknyc1
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@Dr_Cryptozilla, thanks appreciate your feedback..listen tho i am not an analalyst but i made a at most 4000 % return shorting bitcoin from 9.9 k level just by recognizing patterns done from before...however i did loose good amount in this 6k chop...can you do me a favor tho since you are an analyst... there is this chart i have been following which shows how a stock has been shaken out and bottomed out before it was accumulated by instituions and taken to all time highs...the bottomoming of that stock is almost exactly how bitcoin bottomed out at the 5.7 k levels...please have a look at qan stock..have a look at the 4 hour chart between august 2011 and november 2012 dates ..and compare that to the 7 k levels of bitcoin to the levels we are now...tell me exactly what you see and what exactly did i miss..there was a bear flag formed in the august levels which i can compare to the bear flag to 7k levels..however interstingly that bar flah was made to look bullish and made bitcoin tank but the bear flag made in bitcoin at 6 k levels was the exact same bear flag made in qan august levels but that bear flag was a false one since it didnt tank that much below its support...the bots were trying to trick is into thinking it was going to low 5ks but it was saved ...i understaqnd all about manipulation and how they are meant to trick us..however the upthrust we were having maybe was a little stronger than the upthust in qan so maybe this is just a correction...please just have a look at you will see how awfully similar it all looks...