BITCOIN - possible craziness again ❓❔🐋
HEY traders , what's going on Today ?!
It's worth taking time to think and wondering why an anonymous investor recently spent $3 billion to buy Bitcoin at an average price of $23,000.
bitinfocharts.com/bi...SPKZHNvEyfrEkPHzSsCd
Although the crypto community doesn't know who the mysterious bitcoin whale is or are , but the point is they definitely know what they do with such amount of f.. dollars !
but the question is why now? Why have they recently bought Bitcoin in this current bear market as we await further direct recessionary effects on all markets and cryptocurrencies !?
To be honest, I don't know exactly. Did they think we had reached the bottom of the recent Bitcoin decline?
I don't think so.
In such cases, the gut tells me to exit again after a little rising!
technical Point of view:
if we zoom out we can see bitcoin has been declining and fluctuating in a supper big Descending Broadening Wedge Pattern ,
which is looked at as a bullish pattern in the long term! and it seems it should have at least another bearish leg and can fall again !
although if we zoom in , we can see bitcoin has been rising in a ascending channel and recently takeoverd an important support zone above POC (power of control) line, so it shows that bulls are more powerful now , although some negative divergences have revealed recently and can suppress the the rising but it depend sto bulls power which can raise price to fill the higher Volume gap
or mini Resistance zone(27.2k-27.7k) in the short term , so if maintain the current POC and support zone then can even tests the higher resistance zone in the mid-term , although its possible to breakout the descending trendline and overcomes the 30k resistance zone ,But otherwise and more likely by the end of the year at least I expect another bearish leg for bitcoin!
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
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👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💚 if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
It's worth taking time to think and wondering why an anonymous investor recently spent $3 billion to buy Bitcoin at an average price of $23,000.
bitinfocharts.com/bi...SPKZHNvEyfrEkPHzSsCd
Although the crypto community doesn't know who the mysterious bitcoin whale is or are , but the point is they definitely know what they do with such amount of f.. dollars !
but the question is why now? Why have they recently bought Bitcoin in this current bear market as we await further direct recessionary effects on all markets and cryptocurrencies !?
To be honest, I don't know exactly. Did they think we had reached the bottom of the recent Bitcoin decline?
I don't think so.
In such cases, the gut tells me to exit again after a little rising!
technical Point of view:
if we zoom out we can see bitcoin has been declining and fluctuating in a supper big Descending Broadening Wedge Pattern ,
although if we zoom in , we can see bitcoin has been rising in a ascending channel and recently takeoverd an important support zone above POC (power of control) line, so it shows that bulls are more powerful now , although some negative divergences have revealed recently and can suppress the the rising but it depend sto bulls power which can raise price to fill the higher Volume gap
or mini Resistance zone(27.2k-27.7k) in the short term , so if maintain the current POC and support zone then can even tests the higher resistance zone in the mid-term , although its possible to breakout the descending trendline and overcomes the 30k resistance zone ,But otherwise and more likely by the end of the year at least I expect another bearish leg for bitcoin!
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💚 if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
Trade active:
BTCUSDT, 1W Crossing Down $23k (POC)
has already lost major support zone , waiting for weekly close!
🆗✅lower support $(21K-21.5K)
has already lost major support zone , waiting for weekly close!
🆗✅lower support $(21K-21.5K)
Comment:
I guess.. I know who are these persons as a biggest bitcoin whale!🐳 🐳
doesn't hold for now, we're going straight down to $19K range.📛