As soon as we go into '' price discovery mode'' things can go fast. We can see 24k within no time for example. This is why the bears are going all in trying to prevent that from happening. The massive 5k sell wall is back on binance as a last desperate attempt to prevent BTC from going into fomo mode. I have to be honest I can't wait to see all those short...
The dxy made a lower low as expected, it's not really correlated as you can see, but it is a little. IF the DXY drops under 90 for example BTC will gain due to that. To damage the altcoins they will probably let BTC fall to 18600 and come back to here after that, this has been the whale MO for a few years now.
You cant say it looks like a top, a top usually gets rejected within 4 h. As I said the bears can only hope for a double top, or a close lower high, but the higher low is already more than a lower high would be, so we can certainly say that the momentum is bullish.
The best the bears can hope for a double top, but I think we can break 20k within the week. This is a way higher low and were almost close to ATH again! It's incredible that we are so close to ATH for so long, it really proves BTC was never in a bubble.
Its guaranteed that you will make profit with this price, if you don't overleverage. As beginner you shouldn't leverage more than 1.5 x so 50 % of what you have, you can lend, but no more, its to difficult as beginner you will be liquidated. The chart is looking bearish, but where we are in the market is a very special moment. The BTC dominance can drop at any...
As long as EOS doesn't fall under 2.65 it still a little bit bullish. The rejection from 3.88 was manipulation at its finest, if we would have gone up 12 cents more the downtrend would have been broken. We are however at the border of another downtrend or mega sideways movement, so its going to be tight, if we break 3 dollars again we are doing fine.
Not only did we take back all vital moving averages, we are chilling 18800+ its looking great again. The only danger is a double top construction or lower high construction, but either way we made a fat higher low, so the best the bears can hope for is sideways, but if the bulls are lucky were going to 22k within the week.
The bears are trying desperately to defend 18500, it looks like the bulls are in control again and 19k is inc.
We can shoot up to 22k on all the bear liqs, they are double trapped now, if we close above 18600 its set in stone. The 12 h candles are looking extremely powerful and broke the downward momentum.
BTC rejected 18200 and was about to fall through 18k again, but someone dumped a crazy amount of xrp and switched it to BTC pumping btc instantly to 18150 and canceled all the bears dreams! This is great, now we are looking to break 18400 and we are back in business.
The manipulation is pretty serious, if we do go up to 18400 a lot of shorts will be liquidated and we can move back up to 19k within no time. It does look like a giant beartrap, but we have to be careful, because some huge whale is dumping BTC on critical levels trying to prevent natural recovery.
We can still go to 22k if we can breach 18400, but with all the sell pressure it will be hard. Look for 18200 and 18400 for bullish confirmation. Else we are sideways between 17k and 18k for a month.
We had a very similar drop to 16.2k and reversal to almost 20k. Now if we go up again we made a higher high and a higher low, in that case 22k is almost guaranteed, but we would need to pass 18.6k to complete this reversal.
This will be very hard, because the panic is still very real, but the rejection out of the sub 18k zone is also pretty strong. If we close above 18400 we will continue to retest 18800.
If BTC stays within the 18k-19k region for a week or so the alts will start gaining on BTC fast. The dominance has always been in a downtrend and that will stay that way.
If BTC can break the 18800 area again I am confident that we are going to break 20k shortly after. We have to keep in mind that the dollar is about to make lower lows and the dollar can fall 10% or 20 % that would have an immense effect on BTC.
If we break 18k we can fall back to 17200. I think we will bounce here, but you have to be prepared for the other case.
The bounce out of the 17500 zone was pretty extreme, we are nearly up a thousand dollars after breaking through the 18k support. Luckily 18k didn't become a resistance point on the way back up.