Hi Friends,
Foolishness is not "Doing Mistake", but "Not Accepting it". My Last TA was for BUY call , but I went wrong.
I completely take the responsibility of being either on wrong path or missing some data points.
I did went back to check what i did wrong?
Well I couldn't find any atleast non from technical aspect made sense.
But, then what was my mistake? CryptoCurrency trading is more of manipulation for long run than Technical Analysis.
I completely mis-judged , the side where Market Makers wanna play.
Having re analysed what happened in past, more on market maker news and money and volume being played out. It completely make sense that it was supposed to fall.
Why did it Fall?
1. Mt.Cox team first Dumps the bitcoin , and then makes public announcement.
No body does this type of foolishness because they know, they vl have bad press, still they did why cause ? they wanted to justify the price drop and hence price will rise back again, so that they can dump again.
Atleast we, now know that they wanna dump. So , if they sell now? when they are gonna buy?
Their buy point will be our Buy price point.
So, next question How long they gonna dump? Guess they have already dumped major portion of their portfolio(which they wanted to sell).
So, Next question comes up, when they gonna buy? Ideally somewhere at 20 to 30% of margin. so 30% of 9000 is 6300. But if they buy at 6300 and same volume of coin, price will sky rocket, so they need to buy much lower and slowly. So that they can buy all the available BTC coins and then they are able to move the market as per their wish .
So we need two conditions to be met for reverse trend :
1. Price under 6.5k
2. Volume of trading or selling should be Low(so that they can shoot price easily).
So bottom price target seems to be 6000 USD(till april), it should stay there for sometime, which vl reduce the volume of trades as people will loose interest i.e.. swing between 5500 n 6500 for a month of so, which makes our time frame to be in May mid .
If BTC stays low even in June, then Dry month will extend till September.
PS: Please note, for BTC to rise again, volume of trade should dry up. Above months are just speculations, BTC price will shoot whenever volume will be dried up, so it can happen any month. So do keep a watch on BTC volume.
As of now, there is high selling going or bear dump, so that weak investors can loose money.
Choice is urs.
Short Term:
Btc is should rise back a bit as u can see it has touched Fib Retrace points, but how long it stays there deponds on volume, if high volume, price will drop .
If you like the article, do like , share or subscribe.
For any querries , please comment.
Thanks
KryptoTimes
Foolishness is not "Doing Mistake", but "Not Accepting it". My Last TA was for BUY call , but I went wrong.
I completely take the responsibility of being either on wrong path or missing some data points.
I did went back to check what i did wrong?
Well I couldn't find any atleast non from technical aspect made sense.
But, then what was my mistake? CryptoCurrency trading is more of manipulation for long run than Technical Analysis.
I completely mis-judged , the side where Market Makers wanna play.
Having re analysed what happened in past, more on market maker news and money and volume being played out. It completely make sense that it was supposed to fall.
Why did it Fall?
1. Mt.Cox team first Dumps the bitcoin , and then makes public announcement.
No body does this type of foolishness because they know, they vl have bad press, still they did why cause ? they wanted to justify the price drop and hence price will rise back again, so that they can dump again.
Atleast we, now know that they wanna dump. So , if they sell now? when they are gonna buy?
Their buy point will be our Buy price point.
So, next question How long they gonna dump? Guess they have already dumped major portion of their portfolio(which they wanted to sell).
So, Next question comes up, when they gonna buy? Ideally somewhere at 20 to 30% of margin. so 30% of 9000 is 6300. But if they buy at 6300 and same volume of coin, price will sky rocket, so they need to buy much lower and slowly. So that they can buy all the available BTC coins and then they are able to move the market as per their wish .
So we need two conditions to be met for reverse trend :
1. Price under 6.5k
2. Volume of trading or selling should be Low(so that they can shoot price easily).
So bottom price target seems to be 6000 USD(till april), it should stay there for sometime, which vl reduce the volume of trades as people will loose interest i.e.. swing between 5500 n 6500 for a month of so, which makes our time frame to be in May mid .
If BTC stays low even in June, then Dry month will extend till September.
PS: Please note, for BTC to rise again, volume of trade should dry up. Above months are just speculations, BTC price will shoot whenever volume will be dried up, so it can happen any month. So do keep a watch on BTC volume.
As of now, there is high selling going or bear dump, so that weak investors can loose money.
Choice is urs.
Short Term:
Btc is should rise back a bit as u can see it has touched Fib Retrace points, but how long it stays there deponds on volume, if high volume, price will drop .
If you like the article, do like , share or subscribe.
For any querries , please comment.
Thanks
KryptoTimes