Bitgolder

BTC BITCOIN USD : EXPANDED FLAT CORRECTION OVER, TARGET $200K+

Long
BITSTAMP:BTCUSD   Bitcoin
BTC BITCOIN USD I did another fractal chart. I found a fractal from October 2017 that is almost identical to the current fractal except for its type of flat correction, either way they are both flat corrections. Flat corrections in an uptrend (this fractal is on the macro scale so we are in an uptrend) usually result in a violent fast move up after the correction is over. I believe the correction is over on this flat because we have bottomed out on a major support line. If we didn't have this major support around $30k then we probably would drop to about $20k to find the bottom of the correction but $30k is super strong support and has been since January 2021. It was tested again in June 2021 and now tested once more, holding quite well. If we were going to break it then we would have by now. No sellers left, retail bears dumped their bags hoping for a bottom in the lower $20k range which will not happen. Retail dumped their bags on institutional investors who bought it all up. Institutional money cant just go in and buy up everything available on exchanges and over the counter because then the price would be astronomical and it would get there in a week if they did that, then no one would sell and they wont get very much. They have to play with the market in ways to break down retail investors and newcomers so retail/newcomers buy Big Moneys bags at the top and then sell their bags back to Big Money at the bottom. Big Money makes their money in the market by slowly draining the little guy and getting rich off it. This happens in every market, that's why not everyone can get wealthy off the market because in order for someone to make money someone else has to lose money. So, in my mind, when retail is scared and not buying, then large market movers need to give them a reason to buy so the price is pumped and then retail gets in and the whole thing goes around again. Big money does the opposite of retail. When retail is bearish then big money gets bullish because bearish retail doesn't make them money. When retail is bullish and euphoric thats the best time for big money to unload when there is still hype and liquidity. Either way this market is about to explode in a way like you've never seen before. MACD and RSI are both curling up from some pretty low levels. Just think, there are more millionaires in the world than the amount of bitcoin that will ever be. If every millionaire wanted just one Bitcoin they couldn't have it. At this point also most Bitcoin are locked up in major Hedge funds, and big money wallets, and bitcoin that is mined is already spoken for. There is so little bitcoin available to buy right now and every run in bitcoin actually closes the gap smaller and smaller between retail and big money who own bitcoin. Ok I'm done rambling haha. Thank you for reading this far and checking out my charts. This is not financial advice this is just what I am doing and my opinions. Leave me a comment and let me know what you think. Thank you and good luck out there my friends.
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