Step 1: Whales prop the price with big walls unloading bags the whole way up. Step 2: Push the price through 10k because everyone thinks the price will continue up once 10k is broken. Step 3: Put in massive short. Step 4: Market sell remaining stack at 10.1K - 10.2K or whenever the buying seems to be cooling off. Step 5: Watch chaos ensue and rake in the money on the way down.
TA screams down and I imagine it's just fomoers buying right now. If a whale doesn't do this then someone from wall street will when futures get rolling. No way institutional investors will come in and pay this crazy premium when it's clearly overbought.
It's possible because everyone thinks there's gonna be a correction, that there won't be one. Trading is like this - the harder position to take is the correct one. Right now, it's harder and more ballsy to buy, therefore I think it goes straight to 12,000 before a meaningful 30% correction. Falling from 10,000 to 8,000 would be too easy. They will push it up really high and force people to chase up around 12,000 to 13,000 range before plunging it. Just my honest opinion. Early shorts shorting at 10,000 will get burned, because whales are expecting retail to short there. Also fibbo levels show extension goes to 12,500 to 13,500. We aren't even close to there yet. And nor does this feel like a blowoff top like the BCH move was.
DrStein
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I totally agree. This 10K price is ridiculous. I am curious to see when the big correction will occur.
caglan98
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@slfmd Make totally sense !!!.. What do you think correction will take BTC down to?
BillyMadison00
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I agree on your Step1-5. Seems just that they want it to go lil further than 10k.
Mhm it either is starting now or soon. BUt the huge marketsells / squeezes are alreaddy happening.
cryptocommunitynetwork
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REKT
Tbox
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Amazing this morning (in Thailand) watching BTC/USD go up 800 in one 30 minute candlestick and then drop 400 or so bucks at a similar pace!