Hello friends! You can see everything on the chart. The manipulator warmed up the crowd to the maximum, that even the most recent pessimist had already begun to believe in the growth of Bitcoin after 2018. The index of fear and greed reached level 97. The media is full of headlines that Bitcoin has begun to grow again. FOMO started on the market.
What will happen next? The large investors who have accumulated Bitcoin from $3200 to $4000 in a few months will sell it to the crowd. Of course, they have already sold a part of them to the crowd during the growth. But they will keep on doing that each rebound,until completely close their positions. The first level, which is really an intern for the longs - $8200 - 8600, there passes 0.5 level Fibonacci. It is there that I will open my long with a stop loss of $ 7,800. If this support is destroyed, then we will go down to $ 5,500 where Fibonacci level is 0.718.
As I said in the previous idea, there is no growth without long accumulation like it was in 2015-2016. All we have seen these few months is the usual manipulation. You can think for a long time what is the reason for this growth, but personally I am 90% sure that the growth was due to the court case Bitfinex and Tether. They printed it all the time, bought Bitcoin and sell it higher on other exchanges for cash.
Be careful friends!
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Perfect guys!
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I’m waiting a pullback and add the short again!
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Congratulations guys! We got 25% profit! Keep on holding our short! Next target $8500!