Hey, everybody. Today I want to share with you a scenario I see. The first thing I want to draw your attention to is that this situation is very similar to what we saw in February. In both situations there was a rising channel, and in both cases there were Elliott's waves.
All right, back to the current time. On this site I have seen the assumption that a large downward movement can cause a breakthrough in the uptrend line. , there were two of them. Also after breaking the first line the price after some time went up, so I do not think that in this case, this theory is appropriate. Now I expect it to fall to 6500, and then rise to 8100-9000, and from this level it is quite possible that the global down to 5000.
We knew in march that large number of BTC were being moved. Many assumed it from from that ponsi scheme who were trying to get rid of the coins without getting the FBI on their trail again. But who ever it was were able to see almost a million coins crashing all the futures contracts and cause panic selling. This only happens like once an year or less.. Never in the space of a month as there just are not enough leveraged players in the market.
When you look at the markets, you cant just look at the charts but also the fundamentals as well as market stats. 6500 is definitely possible but who ever sells most likely will be out of the BTC's.. This drop was just the option specialists making sure their calls ended up worthless and they closed it under 7000.. I have seen many occasions where they do this even if it costs them money. Rather than allow buyers to profit off them, they are willing to lose a lot more money to prevent the buyers from ever being able to make money off them as a policy.
When you look at the markets, you cant just look at the charts but also the fundamentals as well as market stats. 6500 is definitely possible but who ever sells most likely will be out of the BTC's.. This drop was just the option specialists making sure their calls ended up worthless and they closed it under 7000.. I have seen many occasions where they do this even if it costs them money. Rather than allow buyers to profit off them, they are willing to lose a lot more money to prevent the buyers from ever being able to make money off them as a policy.