BITCOIN WARNING: Optimal Whale Play Will Hit You!
Let me start to say, that Bitcoin is extremely if we zoom out, and take a look at the Daily or Weekly chart. BTC is in a Bull Market, and your job is to spot where its likely we will have a pull back, so you can buy the dips.
Let me also stress, that it is likely, that we will go down right away to my ORANGE - but this post serve the purpose to give you an idea about another very likely scenario, which will be the optimal Whale Play.
335 Irregular/Running Flat Correction
This correction is not unlikely, and we have seen it play out before - not long time ago - on the 4th wave in the extrension inside the 3rd wave extension.
Take a look at the Long vs Short indicator. We have a huge disproportion between Longs vs Shorts, which give the whales a good incentive to go up straight away. In this correction we will go ABOVE the 3rd wave (123.6% of wave), which will kill tons of Shorts. Hereafter we will go down again, which then will kill all the Longs who believe that this an impulse wave.
And lastly the Shorts will once again be fooled, when we make a super short retracement on C (61.8% of AB), which is normal in an irregular/running flat correction.
I hope it helped you. Please be aware of this likely scenario - and remember that LIKE!
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Also notice what happened last time when we had huge gap between Longs and Shorts. We went up..
You really need to know what you are doing, cause its very easy to be caught. D4 is here for you. He is here to help you - to spread Love and Wisdom to the community.
He is here for you - and please remember that like!
So its really important for the bulls to go higher now!
And here you can see, how we are getting closer at invalidating this bearish scenario. But we need to go above 12.5k.
The reason is, that structure it self is more bearish than bullish IF we dont put the Whales in to the equation. So imagine there were no whales, we would most likely go down.
Under normal circumstances, and because we went up so fast, it would be healthy to go to 9,300-9,400 USD, and that is also why you see a lot of other traders talking about this price point.
So far we are still swimming with the whales, and believe its more likely that we will go up than down.
Last time that happened we dropped pretty hard. Ouch. Dirty whales.
As a reminder of REAL technical analysis: