Today we made a distinctive shooting star pattern that has marked the end of the bullish retracement.
This looked to be driven by news that was going around about the RBA considering QE in the near future,
and anyone with any sort of brain knows what this means....
BTCUSD has officially run out of new buyers and is now set to break down below 9500.
Whales holding large stacks are selling at every mini top so no upward trend can be sustained :( Weep.
See chart for details of prediction.
BTC has left its channel which for me confirms that it is adhering to the broader bearish pattern.
Sellers > Buyers.
My bet is that the original holders from sub 1000 are cashing out whenever the price goes a little high.
Since we have broken out of the triangle with momentum, and then seemingly found support I have decided to test the waters with a nice little trade, low risk just in-case our whale friends are trying to shake us out before a pump.
Stop at 9295. I'll look to add to it on confirmation.
Going by this chart it looks like we are about to crash.
But, going by BAKKT coming soon it should be bullish.
Do we believe the chart or the fundamentals?
My head says the chart, my heart says the fundamentals.
After getting wrecked over the last few days I reflected about BTC's strange behavior.
Why do we see the price structure that we currently see in BTC where by it looks like we are accumulating steadily about to make a high and then bam, insanely fast sell off?
It all makes sense now.
The whales are milking us.
The whales got BTC really really...