What a nice price action it is. Btc went up from around 15k, just when all the crypto influencers, noobs and delusional moonboys were sure it would go lower to 10k. It drove up exactly to the last high to liquidate in. And that combined with the etf hype. Procures everybody thinks this is such a good thing for btc. It might be, but definitely not for the price. It’s very stupid to think that very large institutions get in at these prices. They make at least as much as when they short the price to the downside where they than get can real position at real prices. Not almost in the top of this bubble.
Now price has reached the .618 fib from above to the low. Which he rejected perfectly. At also made nice manipulative move to the upside on the higher timeframe. I still expect 1 quick move higher to liquidate this current daily range. To wipe out the current bears. And to let all the brainless wannabe investors think price has no resistance left before hitting 120k or whatever nonsense number they think.
Of course price could fly, that why you never sell all. But psychologically and technically seen, btc has al the reason to go down badly from here on higher times frames. And I see very little good reasons to go up much. So covered my risk by taking profits and might even open a short if price action allows it.
Now price has reached the .618 fib from above to the low. Which he rejected perfectly. At also made nice manipulative move to the upside on the higher timeframe. I still expect 1 quick move higher to liquidate this current daily range. To wipe out the current bears. And to let all the brainless wannabe investors think price has no resistance left before hitting 120k or whatever nonsense number they think.
Of course price could fly, that why you never sell all. But psychologically and technically seen, btc has al the reason to go down badly from here on higher times frames. And I see very little good reasons to go up much. So covered my risk by taking profits and might even open a short if price action allows it.