We have a
BTCUSD
potential double bottom within the green buy zone. But what we don't want to see is yet another repeat of the pattern in blue bringing lower lows again. Shorts will not give up so easily and allow the reversal to happen immediately. Therefore what we want to see is a low volatility sideways price movement indicating that the bottom is priced in and inability to short further into the green zone. It is better to miss the absolute bottom and buy into a price movement more confidently than to gamble with a guess if this is the real bottom and have your money be dragged further down by bears.
Hypothetical situation: let's say I want to buy $50million of BTC for the inevitable runup into the halving and I have many insider connections. What would I do? Use my connections to create fear and dump BTC into my buy orders to buy in as cheap as possible. This can be done by bringing the price right under $6000 where everyone expects it to reverse at which will cause everyone's stoplosses and long positions to liquidate. Then I would pump the price and cause the buying frenzy. Things to think about.
My telegram channel t.me/flourishingcapital
My trading bot (doing a decent job holding onto cash during this whole bear market!) t.me/flourishingcryptobot?start=4047...
BTCUSD
potential double bottom within the green buy zone. But what we don't want to see is yet another repeat of the pattern in blue bringing lower lows again. Shorts will not give up so easily and allow the reversal to happen immediately. Therefore what we want to see is a low volatility sideways price movement indicating that the bottom is priced in and inability to short further into the green zone. It is better to miss the absolute bottom and buy into a price movement more confidently than to gamble with a guess if this is the real bottom and have your money be dragged further down by bears. Hypothetical situation: let's say I want to buy $50million of BTC for the inevitable runup into the halving and I have many insider connections. What would I do? Use my connections to create fear and dump BTC into my buy orders to buy in as cheap as possible. This can be done by bringing the price right under $6000 where everyone expects it to reverse at which will cause everyone's stoplosses and long positions to liquidate. Then I would pump the price and cause the buying frenzy. Things to think about.
My telegram channel t.me/flourishingcapital
My trading bot (doing a decent job holding onto cash during this whole bear market!) t.me/flourishingcryptobot?start=4047...
Trade closed: target reached:
We have a strong volume uptick and double bottom confirmation. Will see what Japan/Korea think of this in approximately 2 hours. I expect a short to bring it down a bit but not to the previous bottom. This will create the sideways price action we are looking for.
Join us at t.me/flourishingcapital
