Very important pivot on BTC! $14K or $9K?! Lets wait and see!If you followed my previous assessment, you'll see that I called the bounce nearly perfectly:
At the current market levels, we are at a very interesting point here. In the last few weeks and last July we have seen loads of market manipulation by the big money wallets. On July 14th for example, we saw an open of 11370.5 and a close of 10185.5 – a dump over $1,000 in a single day. On the 15th, we saw a rally only to be shut down by a $1,400 dump in a single day.
What all of this means is that market manipulators are rinsing and repeating in this market right now, pump it to make retail investors fomo in, and them dumping it to liquidity zones where mainly retail traders are located at.
This month we have seen a lot of movement to the upside and are in a current small correction for those moves – whether its accumulation or distribution is yet to be seen. I’m speculating that at our current level if we hold and bounce to the upside then we will go on to $14,000, however if we dump here I’m speculating we go back down to $9,000 to test that level again, and if we break then $8,500 is the next level I’ll be watching.
Either way, there is no assured up or down prediction here. If July shows you anything, it’s that this market is moved by large wallet manipulators who want to take your money. Don’t be one of those losers who fomo and get liq’d, play it smart and watch for the market to decide on a clear direction.
My personal opinion is we bounce here based on the July and August Pivot points marked in blue. Either way I’m not making a trade until we have clear direction.
Cheers,
