So we have been trading inside this gigantic triangle pattern sideways making higher lows, lower highs and haven't broken out of the $12,500 resistance range to gain higher highs. As of now, we remain in this gigantic Long and Short accumulation zone pattern, where the bears and bulls are making huge profits.
If we break below the 200 EMA 10070 likely we will fall back into the upper 9000s trend zone. With Bitmex's gigantic short squeeze blasting out 55M in shorts the other day we more poised for the upside. I have to give a tiny bearish perspective but as you can see with a gigantic pump short squeeze -- very risky to short in a bull market as it is very risky to leverage long in a bear market.
Phony bear charts hinting a fall, a drop is all nonsense to entice the masses and traders in a BS FUD analysis.
So we hit my 2nd target exactly to the downside. For best accumulation is close to 9048 and below is the red zone lower Lows... I do believe we can bounce up in this huge triangle to the upside any day as we have been doing. If you look at the weekly and daily it certainly suggests this move.
MrMoneyMatrix
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So you have noticed the phony bear chart as well...? Not everyone will be honest in this market
trademaster1969
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@MrMoneyMatrix, hahahhah 100s of them. And let's be honest Bitmex with a trillion + valuation has a boat load of BTC with API's across the exchange sector to control the squeeze plays in either direction.