BITCOIN: one last sell-off back to 6000$?
All traders are drawing the descending or on some even ascending triangles on BTC in the yearly or 6 months chart. All traders are hoping it won't break the bottom line support. Well since when did BTC behave like we expected it to. (Well yes I was on some charts not bad) but the point here is, we have bigger players in the game that look at the exact same charts as we do. And the goal for them is to gain as much control over the market as possible, thus buying as much as they can for the lowest possible price.
People expect it to bounce off the support line at approx 7000$. I say, we will leave the current regression trend channel and go below that fat green line.. and then people start to panic and sell what they can, stop loss triggers gonna be hit, a mass-sell off was just initiated. BUT! I don't think they will let it go below the worldwide Mining support line at 6k. My guess is 6500$ - 6100$ as worst case. Then we spike up fast like in February the 6th. Remember? Big spike with biggest volume ever. Same scenario will be this time.
I say last sell-off, not for fun. We have major banks preparing trading desks. Major VC preparing Funds and investment plans in Crypto. We have positive statements from SEC, IWF and other big names. They (whales, cartel) can't hold it down much longer.
THIS LAST SELL-OFF WILL INITIATE THE NEXT BIG BULL RUN!
(as always, I observe OB, RSI, 200 MA, news Groups, Well known traders, P&D Groups.. and this is my conclusion)
Tether up now, sell your positions, buy more when we go below 7k OR hodl through it like a crypto veteran and just hope for a sick come back!
People expect it to bounce off the support line at approx 7000$. I say, we will leave the current regression trend channel and go below that fat green line.. and then people start to panic and sell what they can, stop loss triggers gonna be hit, a mass-sell off was just initiated. BUT! I don't think they will let it go below the worldwide Mining support line at 6k. My guess is 6500$ - 6100$ as worst case. Then we spike up fast like in February the 6th. Remember? Big spike with biggest volume ever. Same scenario will be this time.
I say last sell-off, not for fun. We have major banks preparing trading desks. Major VC preparing Funds and investment plans in Crypto. We have positive statements from SEC, IWF and other big names. They (whales, cartel) can't hold it down much longer.
THIS LAST SELL-OFF WILL INITIATE THE NEXT BIG BULL RUN!
(as always, I observe OB, RSI, 200 MA, news Groups, Well known traders, P&D Groups.. and this is my conclusion)
Tether up now, sell your positions, buy more when we go below 7k OR hodl through it like a crypto veteran and just hope for a sick come back!
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