SpaceCatZ
Short

Bitcoin puzzle!!! What's next?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Yes we do wanna know what's next. If you are master of chart reading, there is no way of predicting future. People pointing triangles ,or commonly heads and shoulder patterns or abc ,neck,arm,legs whatever can come up with. Best way to explain what's happening is Bitcoin             price being altered heavily by rich investors or institutional investors. This idea keeps manifesting itself with sending wrong signals and confusing people even most experienced buyers!! Is it right time to buy it or not? True fact nobody can predict this accurately. At the moment stock markets generally being corrected. Small part of this money may move into crypto market temporary, therefore by increasing the price coins. However this quick up spike on coins may not be sustainable. As you can see on my chart we are dealing with poisonous snake.This dangerous snake supposedly move towards 6-7k range however all of a sudden when we were expecting to see where the real bottom is, rsi turn into overbought situation .Organized and well planned tactical large bitcoin             buys on Bitfinex platorm then rest of the platforms followed bitfinex regarless. As a result of this breakout happened. Is this trustable? Absolutely not....Will I buy yet? Definitely not. I will wait a bit more at least till I see $9200 confirmation. At this point buying is huge gambling however you may get lucky.. Good luck on your journey!! Try to see bigger picture not just one frame at a time.
Comment: I did see this coming but I was not sure of it. Snake is working it's way towards downside possibly towards 7k range over a period of time. Hopefully this wont be too bloody.Good luck my friends. Keep your eyes wide open times like this.
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