So what do we have now? A really long flat with lower highs what looks like a triangle . Recently we observed an unpredictable pump . What could it be?
1) Cutting shorters. ( shortsqueeze ) Why? Because Bitcoin was very technical and everytime bounced from the trend line .Due to this many people shorted btc with leverages .
2) Activation of buy orders .. Why ? Because many people leaning on a simple technical analysis wanted to buy btc after breakout of downtrend line and strong resistances like 7500 $ , 6800$ and set their orders .It is confirmed with an extremely high volume on the tops of candles on a small timeframe ( 5m-15m)
Now BTC trading at 6700 , so whales killed both longers and shorters . And two ways of price movement are possible. But lets find out what is more possible . I am more confident in a fall .
Reasons :
1) A bad closing of pump day candle ( if buys are true candle must close near the maximum)
2) Still btc is trading near support zone ( so buyers are weak )
3) Market cant move like most people think , so market was a little bit shocked and situation is unpredictable for the majority now.
4) About long positions I can say only after price fixing above 7400$ and others resistance.
5) Trend is bear.
A better sign of price fall will appear at 6200 $ when BTC starts trading under this big candle.
Guys please dont write anything about news , USDT etc. Price and volume reflects this all .
Make decisions yourself.Good luck:)
1) Cutting shorters. ( shortsqueeze ) Why? Because Bitcoin was very technical and everytime bounced from the trend line .Due to this many people shorted btc with leverages .
2) Activation of buy orders .. Why ? Because many people leaning on a simple technical analysis wanted to buy btc after breakout of downtrend line and strong resistances like 7500 $ , 6800$ and set their orders .It is confirmed with an extremely high volume on the tops of candles on a small timeframe ( 5m-15m)
Now BTC trading at 6700 , so whales killed both longers and shorters . And two ways of price movement are possible. But lets find out what is more possible . I am more confident in a fall .
Reasons :
1) A bad closing of pump day candle ( if buys are true candle must close near the maximum)
2) Still btc is trading near support zone ( so buyers are weak )
3) Market cant move like most people think , so market was a little bit shocked and situation is unpredictable for the majority now.
4) About long positions I can say only after price fixing above 7400$ and others resistance.
5) Trend is bear.
A better sign of price fall will appear at 6200 $ when BTC starts trading under this big candle.
Guys please dont write anything about news , USDT etc. Price and volume reflects this all .
Make decisions yourself.Good luck:)
Trade active:
Moving down , bear sign
Comment:
Comment:
Comment:
Comment:
Impulse is coming
Trade active:
Show begins
Comment:
Target reached
Comment:
Bouncing from the support
Trade closed: target reached