7500 BTC New bottom bounce?
dont know where to start?
I trade Altcoins and Bitcoin on these exchanges because they are the most secure, easy to use and lowest fees on the market:
Binance: (ALL Altcoins to trade here!)
http://www.binance.com/?ref=22089979
Coinbase: (get up to 10$ free CREDIT if you use this link ;) take care)
[url=coinbase.com/join/59a33d9536a38100c5678754 ]coinbase.com/join/59a33d9536a38100c5678754
BEGIN ANALYSIS:
Bitcoin has a sell of thats going gradual, we dont see these all out dumps anymore as like several weeks ago. We can assume that insitutional money (whales) have sold most of their holding higher up and are not step by step scaling back in buying up lows to prepare for the bullish reversal.
Currently we see a big buy wall at 7500 USD. This will, if the buywall stays in tact, create a bounce of around 1 to 1.5K at least. Since the daily candle will be closing in about 2.5 hour we can expect to see a nice 3rd daily pinbar forming a solid rejection of lower lows. You know, with bitcoin you never know but markets are calming down for sure.
I will be closely looking at the buywall at 7500 usd, if it doesnt dissapear this wall is valid ( manipulation is pretty normal in crypto and financial markets, buywalls can dissapear and the bounce may start lower than expected in that case but we are not expecting a 1500 bitcoin wall to be Fake.
Remember, Placing a BUY limit order around the buy wall area of 7500 USD is a great way to increase your portfolio holding in a matter of minutes but it is VERY RISKY! if the market decides to push further down and you panic sell you could lose a big part. Keep that in mind.
Trade safe,
I trade Altcoins and Bitcoin on these exchanges because they are the most secure, easy to use and lowest fees on the market:
Binance: (ALL Altcoins to trade here!)
http://www.binance.com/?ref=22089979
Coinbase: (get up to 10$ free CREDIT if you use this link ;) take care)
[url=coinbase.com/join/59a33d9536a38100c5678754 ]coinbase.com/join/59a33d9536a38100c5678754
BEGIN ANALYSIS:
Bitcoin has a sell of thats going gradual, we dont see these all out dumps anymore as like several weeks ago. We can assume that insitutional money (whales) have sold most of their holding higher up and are not step by step scaling back in buying up lows to prepare for the bullish reversal.
Currently we see a big buy wall at 7500 USD. This will, if the buywall stays in tact, create a bounce of around 1 to 1.5K at least. Since the daily candle will be closing in about 2.5 hour we can expect to see a nice 3rd daily pinbar forming a solid rejection of lower lows. You know, with bitcoin you never know but markets are calming down for sure.
I will be closely looking at the buywall at 7500 usd, if it doesnt dissapear this wall is valid ( manipulation is pretty normal in crypto and financial markets, buywalls can dissapear and the bounce may start lower than expected in that case but we are not expecting a 1500 bitcoin wall to be Fake.
Remember, Placing a BUY limit order around the buy wall area of 7500 USD is a great way to increase your portfolio holding in a matter of minutes but it is VERY RISKY! if the market decides to push further down and you panic sell you could lose a big part. Keep that in mind.
Trade safe,
Note
The 7500 USD buywall of 1500 BTC dissapeared completelythere is a lot of manipulation going on in this market people be aware of that. Reasoning is large investors may want to enter crypto s at very low prices
Trade safe,
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