BTC is showing bearish signs as it has reversed on 2 bear shark patterns. Now is the moment of truth as we sit between a possible reversal or a dump. The only think holding price stable is the support line (blue). If BTC price action remains below red line and goes below blue support- expect lower prices. If the price goes above the support and establishes price support above the green line- then we shall be a bit more bullish (at least for the short term). Anything in yellow area is a no trade zone (for me). Right now we have been rejecting the possibilities of maintaining support, but market has not conceded giving up yet. Could be a hard rally- may be a hard dump.. this is why its a no trade zone for me. Set you alarms for a move either way. I have a feeling it will recover , but it needs to prove it versus going off intuition and feelings.
Hard dump. Clearly manipulated either way. Thanks!
John_Q_Public
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@mnaushad, I'm seeing this as about the worst BTC has ever been manipulated. BTC is stuck way up here with no volume to keep it but shorts keep getting bought up. Something tricky at work here. I have a gut feeling we are going down hard, it's easier than going up plus it makes whales and institutions an enormous amount of money on leveraged shorts. Just need something to push it that way. I suspect the miners may be buying all the shorts right now but we know how they can be in the middle of the night. Dump...
Zmaniac
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@John_Q_Public, Why do you think options are a factor? Ratio is 19K long to 2K short. So ridiculous for people to scream "manipulation" when smarter people with way more money are just selling.
Moorsc0de
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@John_Q_Public, Just a BTC correction... IMO. See new chart you may change your mind.
Moorsc0de
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@mnaushad, Just a BTC correction... IMO. See new chart you may change your mind :)
Typelements
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Seems we are going down harder then the upward movements.