This is an highly manipulated asset, the question is which whale is pulling the trigger first. Many other will follow and retail will hold the bags. As everyone is going into bitcoin right now.
I have overlayed the RSI with an adaptive moving Average. It goes tighter on phases of high volatility . There are 3 occurrences as marked in the chart, the two prior parabolic moves have led to an blow off top. The question here is when it will be? I am looking for the break, as we are reaching the mid-line of an longterm trend channel.
The volume on the left-side shows there will be no real support until around 11k.
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The adaptive moving average was crossed to the downside today. Now let the bearish scenario play out.
this is what u wish to drop to 11k so u can buy some :)) i hate when people do this, i can uderstand if u say 20k but 11k ? in ur dreams mate , institution are in
AlexWe1992
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@florynelu86, It is where the volume is; this normally means buy support.
ronakio1
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@florynelu86, He's just another greedy boy. Let's not follow him. He doesn't deserve anyone listening to his nonsense.
AlexWe1992
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@ronakio1, Do you know how the coins ponzi scheme works. Just examine the moneyflows.
Tether prints the Dollar and puts it into Bitcoin. (500.000.000 this weekend alone.)
Nearly no money is coming from USD or other currencies.
Just Coins biting each others up.
ronakio1
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@AlexWe1992, BTC will never go to 11k again my friend. Deal with it.