Story about Bitcoin BTC price route map for the coming monthsGalleon ships called "Big Money" are increasingly openly entering the vast and boundless ocean of the cryptocurrency market. To fill their holds with gold and spices crypto assets, they need to manipulate the market a bit, and they have the resources to do so.
The largest liquidity that is instantly "poured in" is hidden behind the breaking of stop orders.
Yesterday, the last portion of stop orders on small long positions that had been accumulating for more than 3 weeks in the consolidation of $30-31k were broken. In addition to providing an instant large portion of liquidity, breaking stops also has another function - knocking competitors out of their positions . Without "extra passengers," it's easier to move the price in the right direction, because no one will record profits in places MM doesn't need and thus slow down the price movement.
Therefore, we think that MMs have started an expedition in search of resources with a confusing route called "the Big Saw" . It is very likely that sharp trend reversals will occur in the most unexpected places, when euphoric moods such as: well, price has come out of consolidation, now it's definitely "to the mooon", or all is lost "crypto scam".
Let's try to predict what kind of navigation map "Big Money" has drawn for itself:
since yesterday the price of BTCUSDT was not allowed to gain a foothold below $29500, we assume that at least for the next week, the price is expected to move north, towards $32500
then on July 26, the announcement of the new Fed rate, which is expected to rise by +0.25%. This event may become a trigger for a more thorough correction in the crypto market.
Further breakout of the purple trend line, which has been in place since early 2023. On the market starts to feel negative, that "everything is lost" - we fall by $20-10-5 thousand per BTC, panic is a terrible thing. But as soon as a large number of coins are sold and liquidated under the fear of "losing everything," MM can easily reverse the trend upward. We assume that this can happen around $27300.
Moving upward, the BTCUSDT price begins to consolidate above $30 thousand, then above $31 thousand, and then the FOMO of small money is activated: we have been deceived, we need to buy now and immediately, after all, "to the mooon" will be.
Thus, updating the annual highs of the BTC price is possible, but growth will slow down, because on increased trading volumes that can disperse by"small money", "big money" there will be a good chance to fix at least part of the profit.
And in the region of $34000-34200, a fairly deep and powerful correction in the crypto market may begin. But be that as it may, we don't see the BTCUSD price falling below $24000 even in the most pessimistic forecasts by the end of 2023.
In general, it is worth remembering that in 9 months, BTC will have "the halving". Roughly speaking, the cost of one mined BTC will double. Now the weighted average cost of one mined Bitcoin is more than $20 thousand.
So in the long run, everything will be fine!)
Disclaimer:
All characters and events described are fictional.
Any coincidence with real people or events is a coincidence :)
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