Let me preface that my views can change at any point IF I see evidence for such.
In the video I walk trough the points that are making me feel that the probabilities are high for a possible bulltrap and we are at distribution levels.
That are plenty of signs we are hitting distribution range YET this can be delayed longer than we expect has market makers keep manipulating the liquidity (I can see this activity in heatmaps of orderbooks that I didn't show in the video)
Prices are being propped up with relatively low effort that is why price been marking up while on low volume. I think this is a way to get bulls DCA strong into the move not knowing that a possible "rug pull" will soon executed.
Open interests on most altcoin's perpetual swaps derivatives are incredibly high with an unusual crazy 3x jump in just last weeks. This is a sign of a market that is getting over it's head and sanity will soon need to be re-instated with massive liquidations.
Check FULL video since is walk through several different points.
Order cancelled
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OK - changed my mind. We really need to see how we are going to handle the 58/60k range. Being short atm is bad decision as daily and weekly trend are looking good.
Agree 100%.
The ponzi market makers doing what they do best.
cryptomania55
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Good afternoon, thank you for your interesting analysis. The declining volume has beeen seen also from 10th of Jan (41,5k) to 14th of April (64,5k) - sure, we then saw a massive correction (more than 50%), at that period we could also see bearish divergence in RSI. So is there a possibility that we could see new ATH even with lowering volume and RSI divergence? And maybe we'll see high volume after 51k or 57k break, or even 64k? Also if this is a planned bull trap, I think we could see even higher prices so more people FOMO into market and higher number of long positions could be liquidated. Just my 2 (euro :D) cents.
@cryptomania55 It is possible to see a new ATH with low volume. It is also possible to reach 51k, 57k and 64k. The issue now is whether the market makers can pump up the price again after BTC rejected 51k. So let them decide. Sit back and watch. ;-)
cryptomania55
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@Cyamwy, Rejection was kind of expected as resistance around 50k should have been a strong one. We'll see :) Enjoy the weekend
baolehd
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@cryptomania55, great info. thank you for your 2 satoshi
hashalgorithm
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Yeahh 2017-2018 pattern will repeat, don't ignore it.. we already in 20x since march 2020 low
shmaiz
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Could you please tell me where i can get the orderbooks from major exchanges in one place?
Also thx for the analysis. An eye opener analysis and a great one!
The ponzi market makers doing what they do best.