Okay so if you're still with me, that's obviously a conspiracy theory, doesn't mean it's not possible. Let's move on to analysis of this current rally. If there is no manipulation at hand here, then we are looking very long in the tooth for this rally. We can see the end of wave 3 upon us at 13.9k, with a small pullback. Makes sense psychologically as well. Many new people in the market, see the gains, the pullback, the support above 10k, builds confidence. That leaves wave 5, which puts it at the 4.36 fib extension at 15.8k, followed by the start of a corrective pattern. This is where I'd look to take profit. But, what if BTC breaks out of the limits of tradingview's fib extension projections? It could go to jaw dropping levels, along the lines of my theory above. Drawing people in, thinking there's no downside, start dumping in as much capital as possible. Meanwhile they've got thousands of drone accounts, ready for a time-lapse coordinated sell off. I'm not sure whether I should trade the chart, or the sentiment. I think it's best to expect the unexpected.
What are your thoughts?