ETH breaks parabola - whales having fun with leverage traders
For the first time this year, ETH has broken sideways from a parabolic curve. Looking elsewhere in the market, it appears as though this is almost assuredly correlated to the manipulation of sentiment at BTC's strongly psychological $10,000 price level. The current leverage trading options available likely being the vehicle for this manipulation-- with heavy hitters nabbing profits at the expense of smaller traders gambling on leverage. The $10,000 BTC level presents a golden opportunity for these types of games and shakeouts of weak hands due to its psychological impact on the market as a whole. I have added uncertainty about where this goes from here but am still more bullish than bearish. Looking for today's daily close to be above the 0.618 Fib retrace level to maintain optimism.
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