Hi,
Technical analysis is a method for analysing the human behaviour. It is not the price or the technology what make things go up or down. Facebook is a simple web page and got bought every day. Looking at the BTC chart, I believe wave 4 is just finished and it is the time to go short and test the 6500 level. The reason why we got this wave was many brokers in the last few weeks allow their clients to trade in bitcoin with leverage and fraction so many traders start to bid which increase the price. Those experienced traders made everything look over bought in the daily chart, now it is the time for them to take profit and relax over the weekend as this is how they were doing business for many years. Ask any experienced trader would you buy and hold one BTCUSD for 7439 dollar or 1 unit of gold for 1320 dollar, or a stock in Facebook for 168$ they will tell you all the same answer!
There is nothing in bitcoin worth that value of money, they defiantly have no interest in it as they do not know what is it!
They got signal from there broker saying buy ETH or BTC is going up!
I believe in this technology and I hold ETC, XRP and ETH, I'm very sad to see this manipulation but this is how the market work
Thanks
Basel
Technical analysis is a method for analysing the human behaviour. It is not the price or the technology what make things go up or down. Facebook is a simple web page and got bought every day. Looking at the BTC chart, I believe wave 4 is just finished and it is the time to go short and test the 6500 level. The reason why we got this wave was many brokers in the last few weeks allow their clients to trade in bitcoin with leverage and fraction so many traders start to bid which increase the price. Those experienced traders made everything look over bought in the daily chart, now it is the time for them to take profit and relax over the weekend as this is how they were doing business for many years. Ask any experienced trader would you buy and hold one BTCUSD for 7439 dollar or 1 unit of gold for 1320 dollar, or a stock in Facebook for 168$ they will tell you all the same answer!
There is nothing in bitcoin worth that value of money, they defiantly have no interest in it as they do not know what is it!
They got signal from there broker saying buy ETH or BTC is going up!
I believe in this technology and I hold ETC, XRP and ETH, I'm very sad to see this manipulation but this is how the market work
Thanks
Basel
