The manipulators have been very careful this month...
Natural market forces predominate... and the price we are at today makes sense. Yes, markets in alt coins are expected to be repressed during the summer time.
All this will change when new money enters the market.. which is already starting to happen. We need to be watching for fundamental market 'wins' in August; specifically approval of ETFs by the SEC.. followed by institutional investors who start to use the new custodian solutions; like those offered by Coinbase.
The big optimism is coming for the last quarter in 2018, with a glimmer of hope starting September.
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Some of you might be asking...
After leaning toward a bearish price movement prediction, why did the price go up 300 points?
If anyone here is following me because they thought I did NOT subscribe to manipulation theory.. well, you are following me for the wrong reasons.
I was sitting with my finger on the trigger button, ready to buy ETHER as soon as we crossed 6000 Bitcoins price. Roughly 390 ETHER.
And every single TA analyst that I TRUST said the same thing. The fundamentals said bear market. The TA said bear prices coming. EW said that for the most part, but some EW said we were due to up as early as last week.
And in comments I made the last few days, I stated that the price manipulators were fairly quiet. Almost hiding.
There was no reason for a price rise, except whales coordinating a pump. And I will not accept any explanation that suggests the retails Bull market did this on their own... because the volume and counts of longs and shorts, nothing indicates why the price moved upwards.
Now the price is at a level from last week, that the Bulls failed to break.. not once, not twice, but 13 times.
In 24 hours I will be going on a business trip. There will be reports from me going onward Tuesday and I will return Friday.
Keep your eyes open and trade with caution.
And yes, I still think the price will return to previous levels.
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Corectoion. There will be NO reports from me Tuesday - Thursday
Reading the Technical Analysis in detail, I see a central theme that says "Short Now before the Big Run Up." But, wait a minute! What really creates a Big Run Up? It is simply more buyers than sellers. The propaganda being published through TA stating that it "needs" to drop first is just a scare tactic, possibly financed by the Whales themselves. The institutional investors / whales want to buy at a lower price, so their plan is to scare the masses and while the masses sell..... the Big Boys buy up everything on site, at a discount ;). Question, should we cower to this fear tactic, sell our holdings to allow the Big Boys to buy at our loss???? Or, stay the course, hold and prosper. Time, patience, prosperity.
johntradingwick
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I posted this 1 month ago, still going as expected. Please have a look and leave your valuable feedback :)
vibestone
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Thank you for sharing this information.
bkidd7
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Thanks for all your work. It is very helpful. I have been holding through it all, and have now begun buying again. I really feel now is the time to buy on the lows.
Silvertoe
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I can tell you for certainty big investors and companies are in the process of working deals with coinbase custody and the ETF looks very good for approval August 10.
Silvertoe
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Im thinking they just like to use simple TA i posted this before the break.
Victorwu88
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are you sure we are still heading down? I just don't believe it, as long as people enter the market and as the sentiment of FOMO increases, the price will be up, even though the volume is low, what you think? @TradeClass