This is interesting, despite BTC keep hitting its head into that black trend line for the 5th time last month (and crashing after that), it seems we are making higher lows since June's low of 5750ish.
This creates a wedge that could break either way. I guess this is a reinforcement of my previous post that this is a no man's land at the moment.
The reason to think that prices could break to the downside is the big shorts that came in at 7400 BEFORE the crash (i.e placed by a group of insiders most probably) and havent closed them yet. ETF delay could spark the capitulation maybe?
The reason for it to go up it would be ETF acceptance (unlikely but you never know), Bakt in November, another ETF call in December if the Sep one is delayed..
If you have an interesting theory that makes sense, please share it below, more minds are better than one.
And dont forget to like if you think this was helpful :)
This creates a wedge that could break either way. I guess this is a reinforcement of my previous post that this is a no man's land at the moment.
The reason to think that prices could break to the downside is the big shorts that came in at 7400 BEFORE the crash (i.e placed by a group of insiders most probably) and havent closed them yet. ETF delay could spark the capitulation maybe?
The reason for it to go up it would be ETF acceptance (unlikely but you never know), Bakt in November, another ETF call in December if the Sep one is delayed..
If you have an interesting theory that makes sense, please share it below, more minds are better than one.
And dont forget to like if you think this was helpful :)
Comment:
I was expecting to hit 6700 region before lower lows, but we're already flattening, and had a scare to 6300, reminds me of the scare we had at 8400 region, where price fell and rose sharply to 7900 and back again, before giving up and fall to 6300