Hello cyrptoheads, I know that today was very demoralising as BTC shed $1000 that almost took 4 weeks to get to. We know for sure that insider trader was responsible for this and all retail investors were lambs to the slaughter. The only ones who survived had a friend on the inside of Wall street that messaged to go in short right before the crash. However, at the time even though there was a rising wedge with price at the hypotenuse, the overall sentiment and stable price action over many days was good reason to hold a little longer. In fact one of my most powerful strategies is to wait for the daily RSI to hit anywhere over 70 to go short. I was in long and waiting for this reliable signal, but the crash happened at 60 RSI. This is further evidence of manipulation, as the manipulators realise they need to pull the trigger well before that mark and after they load up their shorts. This is not sour grapes but double standards and a call for an equal playing field as the institutions involved in the crash today themselves spend vast amount of resources ensuring the markets are free from manipulation or other circumstances that have the potential to distort prices or otherwise affect the orderly trading and expiration of exchange contracts. Many people say you cant prove it, but I say the devil is in the detail. No one enters a 000s millions short position at that stage with a 50/50 chance of losing, and then almost immediately getting the market to react pouring millions of dollars into your coffers. There are many other little pieces of evidence that all point to illegal systematic insider trading and market manipulation. It would be negligent to suggest otherwise due to the timing and scale of the move. This was not organic. I mean seriously you cant even Elliott wave this shit. So what can be done ? F.......all ,we are their mercy until there is a mass voice all united and calling for and end to this kaos and bring the greedy monsters down. Anyway in relation to the chart if we zoom out to the daily I definitely can see with every move up the angle of the move goes down as in the yellow. This is similar to having all the tension in the price at the ATH being released proportionally with every move up and slowly subsiding as we come to the end of the bear market. There is an almighty strong support zone in the green zone which I think is too strong to break, because it is the end of the bear market and there is just not enough momentum left for the bears try to test it. At the moment the $6400 zone is holding strong and I expect a slow grinding move up from here at a very flat angle according to the last yellow line in the wedge. At that point, bears will be totally worn out and the criminal manipulators have no leverage left to exercise their devious plans. We can only wait and see how this plays out , but dont let this scare you as we all know BTC has been buried and dead many times. But guess what I am happy with $6000 for BTC because it certainly wont see $1000 as some negligent traders with devious motives are calling for. On that note stay calm and chill .....and remember everyday is a good day no matter what BTC is doing. *Please like or follow if you are happy with this TA. *Each individual trading position is unique and this information should not be used to formulate any type trading plan.
This posts was a fail.
You havent seen NOTHING yet!
markn
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@markn, 50% dump since my post. You have still not seen the bottom.
UnknownUnicorn2742699
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@markn, ....what are you talking about nostradanmus. You cant even add up. Bitcoin was 0% fall since you enlightened the world in the first post
Cryptocalypsenow
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@BitcoinBaller1, lol
jejkub12
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This pattern is a bearish one... Don't know if you realize that. The rallies are lower and lower but the support remains the same.
Also, this is an obvious down trend. Indicators are used best when the market is trading sideways. If you insist on using the RSI in a downtrend, overbought level becomes 70 and undersold level becomes 20.
But yes this could've been manipulation but this is cryptocurrency so what do you expect?
It is still possible we will go below 6k and have a slow bleed for 3 months hitting 3750 BTCUSD around december.
UnknownUnicorn2742699
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@TeunisDokter, Hi thank you for your stab in the dark. Yes we can go below, $6000 but not by much(10%) according to BTC market dynamics which also includes cost of production. Any market asset are driven by psychological expectations is like a black hole. The closer you get to the hole the stronger the pull, until it is crushed into nothing. So If BTC is going anywhere near sub 5k I believe its all over, there will be no market, the fear of investors will turn the asset into an empty bag. No one knows but if you put out a call on price you will need some form of substantiation and not just post a figure with no technical reason.
TeunisDokter
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@BitcoinBaller1, sound like a good possibility, what you tell me.
SaeidKarimzadeh
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@BitcoinBaller1, that exactly will happen . It will go bellow 3k and you will see it . And people will sell and the. Ofcourse in about 10 minute it’s all over and price goes back to 5-6 k and since the push will be so fast and strong it will just push to 8k and 10k where it will face some resistance . Bitcoin won’t die but it will kill everyone in the near market every time it does go into a bear market
You havent seen NOTHING yet!