Whales are playing games again with our Bitcoin

I have not updated my analysis for a few days because there was just nothing to add really. Price has been moving sideways ever since we made that big short squeeze. I posted this chart a few times already in my updates, not that i knew it would happen like this, but the similarities were very high and with that move up a few hours ago actually even confirming it.
Now it's still not really tradable though, these fractals only give a possibility to keep in mind. We have entered the purple area today and it would suggest we should go up towards the 8300ish, to make a lower high and go down from there on. I still think we should be making a healthy correction towards the 7700/7500 before going up again, but i really been having doubts NOW if we will do that. Many alts seem to have broken out already and are showing much more strength than we did a month ago (during that fractal of Bitcoin).

For the ones who have missed it, since we were in the 6K levels i have said we needed to go up towards the 8K levels and maybe even the 9K levels to shake out all the bears we had in that period. But i also was saying that i am still a bear on Bitcoin and at the same time said i would build up a big short position if we would get there. Since we made that big squeeze i said for the market to show some real strength we had to make a healthy correction towards the 7500/7700 to see if buyers were ready to jump in again and to start a real rally with BUYERS and not with a short squeeze. If this would happen i said we could be seeing prices around 9500. But if we did not make a healthy correction, there would be 2 options left for me:
1: We go sideways like this and after a few days make another rally towards the 9000 and i would probably start to short it around 7800/9000, because the rally would not be sustainable without a healthy correction.
2: We stay in this range for a week or 2, so we make a healthy correction in time and than we could sill go above in the 9K levels.

There are just to many mixed signals here now. Like i said, many alts are showing real strength, but Bitcoin is showing to many mixed signals. The 6 Alt long positions i opened a week before the squeeze (see my trading idea history), i have closed all them already, some even went past their targets. I would not feel comfortable still having them here at these high prices. But i am a trader and not a long term investor, so you have to figure out what you are to make that decision.

For now, i have been showing that resistance area around 8150/8200 for almost a week now, price got rejected from it again yesterday and made that drop, but now we are back at it again. Of course there is a big chance whales keep playing the same game and just make us drop again from here, but i think there are allot of stops piling up now above the 8200, which could trigger another small squeeze of maybe around 200 points. So this could all have been to make a setup to push higher without making a real correction but shaking out some bears AND bulls in the mean time. Best advice i can give now, stay out of this range. Trading this is very difficult if you don't know what your doing. There were always be chances in every market, just have the patience to wait for them.

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I posted this in my update almost 2 days ago, showing that fractal. I started this fractal actually before we broke the 8200 and rallied to the 8400. But again, these fractals are really difficult to trade, because they do no move in the exact same way, but they can show us the game plan.

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Here you see that red resistance area i have been showing for a while now. We are right in it now, the longer we hang in this area, the higher the chances become we break it and go higher. Chances are 60% we go up and 40% we go down, so not tradable.
Sometimes i just wish this market was regulated, to get some of that manipulation out of it. Nobody knows who they are, these whales. Exchanges them selves, just some very rich people, hedge funds, the early heave investors of Bitcoin. They are just killing this market if they continue like this. It could all just be a phase, but the last month or 2 these false breakouts up and down are just increasing every week.

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I know i have not been the best days, nobody is while we keep on going sideways. All we can do is hope we break the 7800/8400 range and choose a direction so we can start to make some real trades again. Anyway, if you still like what i am doing here, don't forget to like :)

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Best advice i can give now, enjoy a few days off. Like me i have been busy 7 days a week, as you have noticed probably (the one who follow me). Sometimes spending more than 100 hours a week on trading and on TradingView. These moments are good to take a break. We have our first sunny week in the Netherlands, so i am going to try and enjoy it a bit. I don't think the false moves have ended in this range. My guess is, we stay in this range for a few more days

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Anyone got any problems with their charts? With the feed?

I had a analysis ready about XRP, but it's gone now as well

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I think it's the Bitfinex feed

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And dropped back again, that red resistance still holds so far, but i don't think for very long

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Good luck guys, i am out for few hours. I think 7900/7850 is a key support level for the short term. below that support opens targets like 7700/7500
Don't forget to like :)

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Almost 80% chance now we go up with a (small) rally . But has to stay above 8050

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Alts don’t have the patience anymore, allot are jumping already. Only bitcoin that can’t decide. This small bull flag should take TO long though. Still looking good that we go up from here

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Just doesn't end it seems, same moves whole day long.
Price is still above that small support level, but it actually should not have dropped below the 8150ish. That's not very meaningful, but there was no follow through after that small breakout of the red resistance area. This is a very bad sign. If we do drop below the 8100, i think we will just keep on going again in the range. Almost looked like we would make a nice move up, Alts were doing really good but Bitcoin just did not move. Than we saw that small rally and things started to look good but just no follow through.

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Remember the good old times guys? Only a month or 2 ago, that volatility makes me smile and gives me hope in times like these :) LOL

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Second buy wall of 1000 btc i see, the first one got sold into completely 10 min ago. Now the second one, i am confused. Did not see it completely, but did not have the feeling it was wash trading.
Now i missed what happened with the second while i am writing this, and than all of a sudden i see a sell wall of 1000 BTC. I think it's better to go to sleep :) LOL

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Rising wedge

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Volume picture is not great, that buy wall indicates up, still confusing. But i think this wedge will work out and has a target around 7900. The high from just now got sold pretty fast A real confirmation would be a drop below 8100

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Remember this picture? wasn't all that of though :)

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Could still drop from the wedge, but it's going sideways since it got out, so it has lost value

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That rising wedge really gave me hope guys :) LOL, gave me some hope on volatility. But who ever it is, they killed that hope AGAIN. What a frustrating market this Bitcoin has become.

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New analysis