Long

BTCUSD short-term trading

Updated

The whales have swallowed huge amount of coins during the formation of the 8400 local bottom. It is very likely they will push it higher to dump their bags.

The pump may stop before the resistance around 9700. This is a short-term bullish scenario.

Note

Whales are really determined to pump the price. Now I think we are very likely heading to 10k+.

Note

Just saw a failed breakout. Seems our whales have strong competitors shorting it. Be careful.

Note

The selling pressure from 9700 and above (red resistance line on the chart) is still very high. We may see a retracement coming. It is very dangerous longing it at the moment.

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They managed to pump it to 9800. The market makers showed their financial strength and performed sophisticated market manipulation. If they can make it to 10k, the double bottom will be officially formed and many traders/investors may come back to the market. Then we will enter the step 4 again and start a new cycle.

Note

This looks like p&d. But if you didn't move to fiat fast enough before the dump, I suggest you hold it for a while. They may do it intentionally to preparing for the 10k pump.

Callmepope

We don't trade patterns. We draw them.

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