Down first? Gravity .......
Updated
My approach is different and a bit random to others - but, my work is (in it's own way) has near idential outcomes to many others. FYI - I am dyslexic
Bit late today - dentist!!
Gravity will come into play as will FUD.
It was Sunday / Sunday night for Europe and the USA.
Many in the northern hemisphere are on holiday (we'll know summer is quiet ! 🤫 not! )
WHO did the buying?
Asian Big money? Not good for them unless they are making a TRAP
Retail? Panic buying with both spot placed as an "oh shit, I missed the dip" but this is my safety net and panic, last minute long trades?
A whale pump? Possible as it will hurt a lot of folks and profit was good.
Lots of shorts liquidated!
Looking at it, it looks like a typical pump and dump - such a massive wick.
I think retraction will be sharp and maybe to 15% or 20%. And after.....?
Here's an interesting bit of math.
If BTC & most ALTs fall by 30% [to major support of around 27.5k
BTC] BIG money is a 'happy bunny' because when it hits the 39.5k area it shows a volume profit return increase (sort of like ROI) of 43% - SO, for fund managers, this is very attractive.
And the beauty of it is - they don't have to do much work - retail when spooked will do it for them.
Not Financial advice.
Remain open minded and flexible - avoid being stuck in a 'mind set'
Bit late today - dentist!!
Gravity will come into play as will FUD.
It was Sunday / Sunday night for Europe and the USA.
Many in the northern hemisphere are on holiday (we'll know summer is quiet ! 🤫 not! )
WHO did the buying?
Asian Big money? Not good for them unless they are making a TRAP
Retail? Panic buying with both spot placed as an "oh shit, I missed the dip" but this is my safety net and panic, last minute long trades?
A whale pump? Possible as it will hurt a lot of folks and profit was good.
Lots of shorts liquidated!
Looking at it, it looks like a typical pump and dump - such a massive wick.
I think retraction will be sharp and maybe to 15% or 20%. And after.....?
Here's an interesting bit of math.
If BTC & most ALTs fall by 30% [to major support of around 27.5k
BTC] BIG money is a 'happy bunny' because when it hits the 39.5k area it shows a volume profit return increase (sort of like ROI) of 43% - SO, for fund managers, this is very attractive.And the beauty of it is - they don't have to do much work - retail when spooked will do it for them.
Not Financial advice.
Remain open minded and flexible - avoid being stuck in a 'mind set'
Note
Time - ignore the dates. I think it will be late August/early September before we see significant clear change. Right now -- I think down and then sideways (again).
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