We all know how unpredictable this market is. Its what makes the potential gains... and losses achievable. For the most part TA will only give you an insight into the gameplan of the powers that be who undoubtedly manipulate the market for their own gain. That being said, if the PTB use the TA to mask and justify their decisions....you only have to decide which way they are pushing and what indicators to follow to catch the tailcoats and make a bundle.
Personally, I think they will use the pre halvening rocket repeat theory to do exactly the opposite. The order books are currently stacked im guessing at a bounce at 8200, 7600 and 7000....
To me that says that if they have the will they could easily take this into capitulation and hoover it all back up at 4500 - 5000 being the bottom of the long term trend line and make a killing. If I was a whale thats what I would do..
My chart at the moment shows the current line of the 200EMA which we closed below yesterday. Today is the retest of that level. if we stay below, Ill expect the next 10 to 14 days to be carnage and when the calls that cyrpto is doomed and destined for the annals of the dustbin....then it will be time to reenter the market.
No advice given. Just a thought ....think like a whale...they dont think like you....
Personally, I think they will use the pre halvening rocket repeat theory to do exactly the opposite. The order books are currently stacked im guessing at a bounce at 8200, 7600 and 7000....
To me that says that if they have the will they could easily take this into capitulation and hoover it all back up at 4500 - 5000 being the bottom of the long term trend line and make a killing. If I was a whale thats what I would do..
My chart at the moment shows the current line of the 200EMA which we closed below yesterday. Today is the retest of that level. if we stay below, Ill expect the next 10 to 14 days to be carnage and when the calls that cyrpto is doomed and destined for the annals of the dustbin....then it will be time to reenter the market.
No advice given. Just a thought ....think like a whale...they dont think like you....