I make this post and I will not give you a direction for next time because this is unclearly period that difficult for predict and very risk.
But we will consider about 2 aspect in this EDUCATION POST.
First is the market psychology and second is which mean the price and indicator show for us ?
Firstly I will share my opinion of market right now. As all you know specially investor has invest in crypto at least from early of this year up to now. We are in strong downtrend like many analysis and education analysis I made in before. Last time in last several day, we are in the time for important decision that can direct the price of Bitcoin and which way it can follow in late 2018 and in all 2019 ?
Many time from early 2018 to now, the zone 58xx - 62xx keep us from and prevent us from broken market. A lot of buyer in here they put order to buy, many time the price all bounce from that zone so numerous trader and investors more and more believe that can hold the price and bounce up. But in next time after, the bear is stronger make the price can not go up to reach like last highest point. And the time for decision after the “GAME” in 1 nearly 1 year the BIG BOY need a solution. They can not dump because many people put buy order in buy zone ( 58xx - 62xx ) but also they can not pump because the market become more fearful. In recent time, all we can see that is difficult to apply ( TA ) for Bitcoin . The WHALE kill short and long entry order so much to kill much much more trader after FINAL HIT. Which is FINAL HIT that whale and BIG BOY using ?
They broaden FUD news and the target they want is dump USDT strongly. The news about USDT is not official but recent we see many FUD about Tether (USDT) and today is FINAL HIT to dump it stronger. That is only way and very smart solution to change all the market psychology. Why I think so ? Let see the price of BTC /USD in Bittrex exchange. the true Bitcoin just pump from 62xx to 66xx for max in today but why BTC /USDT can come to 77xx in Binance and Kucoin exchange ? It is not nature for increasing and uptrend. It is fake and crazy way to make all people sell USDT and buy BTC or ALT coin. Many International Exchange they pair USDT for ALT coin and BTC so when the FUD is broaden they can make a very large affective and make all market become panic. Today I see many people buy BTC and ALT in very high price when they sell USDT to BTC and ALT. It is the game. Many group with big member in social media they post the FUD new so people more and more panic. It is uptrend because of dumping of USDT instead of the new money in other financial market come to so it will very risk. After the FUD they will public the improve new and USDT will recover to true value is 1$ and market have to down.
Ok, secondly I will explain about several indicators I using in this chart for predict next period about Bitcoin .
Let look at resistance line, the price surely did not break this. If the market want to have another bull run in middle term so to day (Monday 15/10) the price need to close above 7000$)
The FUD new make the in today is bigger than every day in last time. But it is does mean that we can going up.
In just 1 day, the price can break up all 14 49 and 105 with big , it also can be a good signal for market but the short term did not cross up long term so we will wait for close price in today in next 2-3 days for more clearly.
The 61xx - 63xx also make good at this time before suddenly pump of price today.
Consider about . The price can not break out of red cloud so it is early to say we are in .
Look at , now the price is upper than P, if the price can keep 2-3 days above P (6718$) so may we can reach R1 (7335$) in next several day.
show the index break up all resistance line, it is good signal for bull.
DMI 4C show big green column in today show the bull is strong but the also under 20 so the signal is not clearly.
may want to cross up signal line and give us uptrend in short term.
Elder Impulse show momentum.
This is not a nature uptrend like many time when USDT drop strong by FUD new so I hope the market will come to true value of it. Wait the price today close above 7000$ for middle uptrend.
Surely we can wait for close price of this week upper 6608$ like this picture in below for really uptrend:
THANK FOR READING AND HOPE ALL YOU LIKE THIS FOR ENCOURAGE ME !
Also Bitfinex is having huge liquidity issues just like they did last bear market. They are hardly too big to fail and we will certainly see their collapse if this arbitrage continues. I don't think people realize the severity of what would happen to the BTC in the short-mid term with a Bitfinex collapse.
One last note: Even with all the force of that pump, buyers could only wick outside of the triangle we've been in. Sell side pressure is still much greater.
The real price of BTC is....$64xx right now.
here is my analysis on the chart on how they might play the psychology. Seeing the bigger view of chart it is bearich. But will they dump hard now? I don't think not yet. On my chart, I drew a parallel line to the diagonal support line. Without the parallel line, it's a triangle that can either go up or down. Do we think that the whales are ready to dump hard now? I was thinking that they may not yet. They can go down to that support line or even exceed to cut those who short then go back up again to the projected parallel line above with ups and down cutting the short. They will play with our emotions. It can even go 8 or 9k or 10k so a lot of people will chase the price then dump harder where others predicts it too low. Just my opinion as I have noticed it. I don't cut loss near the amount they say to cut loss. it seems to me that every time it goes below the price we cut loss, the price goes higher