Callmepope
Long

BTCUSD short-term trading

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The whales have swallowed huge amount of coins during the formation of the 8400 local bottom. It is very likely they will push it higher to dump their bags.

The pump may stop before the resistance around 9700. This is a short-term bullish scenario.
Comment: Whales are really determined to pump the price. Now I think we are very likely heading to 10k+.
Comment: Just saw a failed breakout. Seems our whales have strong competitors shorting it. Be careful.
Comment: The selling pressure from 9700 and above (red resistance line on the chart) is still very high. We may see a retracement coming. It is very dangerous longing it at the moment.
Comment: They managed to pump it to 9800. The market makers showed their financial strength and performed sophisticated market manipulation. If they can make it to 10k, the double bottom will be officially formed and many traders/investors may come back to the market. Then we will enter the step 4 again and start a new cycle.
Comment: This looks like p&d. But if you didn't move to fiat fast enough before the dump, I suggest you hold it for a while. They may do it intentionally to preparing for the 10k pump.
They have a full arsenal of tricks under their sleeves. You just never know. La-La-Whale Land.
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@nakov, they are assholes for sure.
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nakov Callmepope
@Callmepope, what do you think, next week after G20 what are the chances that we will have a bullrun from where we are standing at that moment?
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@nakov, really hard to say. I would be really cautious during this month. Take small profits and move to fiat after each short-term trade.
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nakov Callmepope
@Callmepope, March is the female month. As moody as a woman. I wouldn't be surprised that we move in range 8-10-11k for a while. Bears don't feel that strong. Bull neither. An standstill kinda. I have found ideas from some Wyckoff traders also considering as the most probable scenario for some time maybe until end of April.
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nakov nakov
@nakov, to clarify - March is the female month based on weather and in the Northern Hemisphere it can be hot as in June and cold like in mid-January.
Btw we are in a triangle! The tip should break about 26-27 March. So we will most likely be in range 8.3-10.2k during this time, my gut feeling. Now that's something we haven't seen for a while :)
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@Callmepope I'm sorry, but what is Step 4 from your last comment?
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@nakov, they start pumping the price, releasing good news, and trying to trigger people FOMO buying in. So we might see a bullrun soon if BTC can stay above 10k.
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There is nothing on the chart indicating a move like this. The only logical thing i can think of is creating buy walls for buy pressure so the price slowly rises and they slowly sell at key levels, making this look like a normal impulsive wave.
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Also, this looks like a fractal (in a smaller scale) from the drop from 20k down to 12k and then back to 17k. Its half way to "17k" right now.
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