The last 48 hours has been a sobering wake up call from the beautiful daydream of a lavish bull market! The market continues to flood with negative news everything between wallets moving enormous amounts of BTC to different exchanges, and questions as to who even owns these wallets!!!! Goldman Sachs has again proven their power of public manipulation, publicly announcing their dump of BTC and price manipulation!!! Crypto enthusiasts only hear and cling to the hope of regulation and "ETF finally approved" as a sign of change of tide change and BTC to 20K..........
My no frills analysis is as follows: The accumulation of Shorts point to another slide this time to retry lower lows possible 6100-6200 and will have to see if this resistance holds through the weekend! The stoichastic in the 4hr chart shows we are close to overbought at 6500 levels.. There are forces that continue to work on causing chaos and instability in a wild market, I believe that the SEC will continue to delay their approval and continue to frustrate all those hoping to have Lambos to drive to Thanksgiving dinner this year!!
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Hi everyone,
I just wanted to express my ideas please feel free to opine. It is the end of the weekend and after almost 4 days of downward spiraling on BTC price and testing 6100 price, we have rebounded. I tried to draw a horizontal at around 31334 (BTCUSD SHORTS) which seems to be a resistance line and a possible target for accumulation of shorts again. The stoichastic seems to be in overbought territory with low volume. I believe if we start a significant accumulation of shorts toward mid to end of week we may see another dump to retest 6100 levels.
Is your position still the same? seems shorts are still near ATH, short squeeze would appear near?
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Nice work, Allen
The flow I am getting right now from other analysts who I also trust.. is that we might run to 6600. Then there are three roller coaster scenarios... all eventually heading down. And that's based on pure TA, not true market sentiment.
The announcement by Goldman Sachs to save face (they blamed it all on fake news) is being trusted by the masses and might explain the current wakening of the bulls later today. Maybe. I think if anyone day trades or swing trades, they could well if they time everything properly.