Bitcoin : Market in pause. Buyers sleeping, sellers awake.
Hi traders,
As you can see the market is having a small pause.
Due to the too important sales that occured during the previous weeks, buyers seems to be scared to enter the market, which is completely rational.
People also noticed the size of the crash and the nasty structure of the formed pattern, the average person sees the lack of possibility to make money in this unstable and crashing market and is not willing to enter now.
Buyers are starting to think if it is the right time to enter for long term, but they are apparently not entering the market as we noticed this week that when Bitcoin is around the 6.500$ value, buy volumes remain very low.
We had some local pumps that artificially maintained Bitcoin price above 6.500$, this is a way to slow the crashing process from the persons controlling the market.
They are doing it for plenty of reasons : maintening a price not far from some profitable sales for miners which lets miners hoping they could see higher prices so they don't stop mining, it starts up potential greed from greedy buyers that sees Bitcoin market raising back and some of them of course won't resist jumping it, higher prices means easier short possibilities with more profits, ...
Everyone is finding an interest when Btc price gets artificially pumped up.
I suspect we might have an important incoming bulltrap sooner or later, it is a long time we did not see one, this 6.500$ level is an ideal zone for a bulltrap as this zone is a fake psychological reversal area, and it appears that market manipulators still have some more Tether in reserve to pump up Bitcoin prices.
But do not get wrong, these raises are just an illusion, whatever raise you will see here will be a Bulltrap.
In a completely crashing market, there is ALWAYS some attraction to the ground, and there is no way to stop it until the asset reaches a particular low value, which is according to my calculations, around the 3.560$ area.
This 3.560$ target is not the bottom of the market, it is an area that is likely to create a slow non parabolic bullish wave, that will end up decreasing slowly to reach some lower values, but i will come to these lower targets i calculated when it will be time.
If you are ever doubting that Bitcoin is bottoming here, picture a face to face Bitcoin pattern with the Nasdaq Composite pattern, realize we are taking a Nasdaq Composite wall in the face since January, this should give you pause.
Do not forget that these cryptocurrencies are a real threat for the governments of the world, and that when they are talking about regulations, they are talking about terminating this threat as they 100% do not want to lose the control of their money.
This means all these current cryptocurrencies could reach some extreme low values, even if it is difficult to imagine if you are believing in cryptocurrencies.
This market is extremely risky, and having other incoming bull cycles with new all time highs is ABSOLUTELY not a certainty.
Bare in mind i am not a financial advisor, and i could be wrong.
Good luck.
As you can see the market is having a small pause.
Due to the too important sales that occured during the previous weeks, buyers seems to be scared to enter the market, which is completely rational.
People also noticed the size of the crash and the nasty structure of the formed pattern, the average person sees the lack of possibility to make money in this unstable and crashing market and is not willing to enter now.
Buyers are starting to think if it is the right time to enter for long term, but they are apparently not entering the market as we noticed this week that when Bitcoin is around the 6.500$ value, buy volumes remain very low.
We had some local pumps that artificially maintained Bitcoin price above 6.500$, this is a way to slow the crashing process from the persons controlling the market.
They are doing it for plenty of reasons : maintening a price not far from some profitable sales for miners which lets miners hoping they could see higher prices so they don't stop mining, it starts up potential greed from greedy buyers that sees Bitcoin market raising back and some of them of course won't resist jumping it, higher prices means easier short possibilities with more profits, ...
Everyone is finding an interest when Btc price gets artificially pumped up.
I suspect we might have an important incoming bulltrap sooner or later, it is a long time we did not see one, this 6.500$ level is an ideal zone for a bulltrap as this zone is a fake psychological reversal area, and it appears that market manipulators still have some more Tether in reserve to pump up Bitcoin prices.
But do not get wrong, these raises are just an illusion, whatever raise you will see here will be a Bulltrap.
In a completely crashing market, there is ALWAYS some attraction to the ground, and there is no way to stop it until the asset reaches a particular low value, which is according to my calculations, around the 3.560$ area.
This 3.560$ target is not the bottom of the market, it is an area that is likely to create a slow non parabolic bullish wave, that will end up decreasing slowly to reach some lower values, but i will come to these lower targets i calculated when it will be time.
If you are ever doubting that Bitcoin is bottoming here, picture a face to face Bitcoin pattern with the Nasdaq Composite pattern, realize we are taking a Nasdaq Composite wall in the face since January, this should give you pause.
This means all these current cryptocurrencies could reach some extreme low values, even if it is difficult to imagine if you are believing in cryptocurrencies.
This market is extremely risky, and having other incoming bull cycles with new all time highs is ABSOLUTELY not a certainty.
Bare in mind i am not a financial advisor, and i could be wrong.
Good luck.
Comment:
Translation of the local patterns that happened since 6.500$
Comment:
Xrp was a lagger, today it is more bullish than Btc
Ltc is today's lagger
Ltc is today's lagger
Comment:
"Give them some pump and they will give you their money"
The previous day pumps and the absence of new recent lows woke up the buyers
The previous day pumps and the absence of new recent lows woke up the buyers
Comment:
If Soros and Rockefeller starts combining their forces to do some Short simultaneous attacks on Btc as they did to the British Pound in 92', we might assist to some spectacular and surprising things.
Comment:
"I suspect we might have an important incoming bulltrap sooner or later, it is a long time we did not see one, this 6.500$ level is an ideal zone for a bulltrap as this zone is a fake psychological reversal area"
That might be starting, who knows ;-)
That might be starting, who knows ;-)
Comment:
Lots of you probably don't get what just happened with Bitcoin.
We had a short squeeze, short sellers had to close their positions, and has some of you possibly spotted it, the shorts were forming a parabolic uptrend.
This is why i am waiting for this bull trap since 1 week.
This short squeeze that made Btc raise could now possibly create a bull trap if bulls follow the move.
But it can also create a complete failure back to the lows, as now there are not a lot of short positions.
Stay alert.
We had a short squeeze, short sellers had to close their positions, and has some of you possibly spotted it, the shorts were forming a parabolic uptrend.
This is why i am waiting for this bull trap since 1 week.
This short squeeze that made Btc raise could now possibly create a bull trap if bulls follow the move.
But it can also create a complete failure back to the lows, as now there are not a lot of short positions.
Stay alert.
Comment:
(Do not blame Soros, the illuminatis, the Cartel, the reptilians, raptor jesus or whatever lol, it is really just a short squeeze and it has nothing to do with price manipulation)
Comment:
Remember that a short squeeze does not necessary mean the end of a crashing market
It is of course encouraging, but we still need to stay alert