befunkt

BTC 3rd Down Conversion (sorry!)

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
..and before I get an earful - I TRULY dislike American football.
HOWEVER... a 3rd down conversion is a pretty damn good analogy of the buy walls that are put into place that carry the price action across a downtrend into bull turf.

Ever notice those? Whereas we may expect price to simply bounce down off of the downtrend, someone, or somewhale, puts up a formidable buy wall.
This is not the typical bluff buy/sell wall, and we can see this because the wall is very close to the price action. Fake walls/bluffs usually don't come within 1% of the price action without disappearing.

This happened on Binance the last bull run we had when we got up to ~8500.

Keep an eye out on the Binance BTCUSDT depth charts for the real buy walls! Probably good for at least 12%, if the price makes it across the downtrend.
Presently - roughly 36-72 hours away from the downtrend - there is a real 300-400 BTC buy wall.
There is also a bluff 400-500 BTC sell wall around 7500. Or at least, I'm betting it is a bluff just to shake out some supply.

*note - this is a SHORT TERM prediction.

Cheers!

-B


(Don't trade on my advice. I only give good advice to my pet fish. You can fend for yourself.)

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