It is great to be back on TradingView, I love this job.
So, the big question is, why were all the bulls wrong??
Why BTC bulls got trapped on 10k, and now are running scared from BEARS...
That is not an easy question, but single numbers could tell a lot.
Check out these numbers of accounts and how many coins they have. If you check closely you will see that few accounts have most of the coins.
On the stock market and crypto, and everything you can sell, normally, less available means more expensive, or higher price.
So, one way to trick the market is to re-buy your own shares or concentrate it on few hands, so others will try to buy it and not be able.
But, and this is important, notice I said, "TRICK" the market. That means, it is not natural.
Eventually, investors will see that manipulation is happening, and will notice that price is not in the right place, but overbought.
A while ago, I stopped doing BITCOIN ANALYSIS because I could see manipulation on the chart.
Suddenly my analysis were not working as they used to work.
Now, everything changed, and that is why my charts are working again.
Investors are not buying it, because many difficulties are ahead, and there was another bubble...
What you are looking at is a weekly chart, main resistances (red) and main supports.(black) and Next Targets..
Let's ride the wave.
=> U$ 7,512
It touched the line of main move down, and it is following the line below.
Final Target is very close now.