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RE: Bitcoin (BTC) Morning Update: Landing Zones
Mister Haejin, I am sensing a drop to 5900-6700; do you believe that possible? What do you think the future of btc holds this year?; do you think it will it recover to 15k in february-march? I read that this is a manipulated dump; i believe banks are getting ready to invest into crypto (why would they pay top dollar,better crash the market) can I have your opinion om the subject? Do you think another coin will replace Btc? And if yes, which coin?
I believe the market is being manipulated; the futures contracts expire in 3 hours; bitconnect, the ponzi scheme, added insult to injury by clossing and gave the authorities the motive to regulate crypto and further bash bitcoin. Please share your thoughts!
One of my charts has a gap around the $6500 USD (Red Cross) level from back in November. Charts love to close gaps and this might be no exception. Same chart also has another gap at around $14350 usd (Green Cross) so if the rule holds then it should climb back up to close it after closing the lower gap first...or something like that. I tried to find the charting tool that Haejin uses so I could take a closer look but had no luck so I'll just post my chart instead. :) Would like to know if other charts have those gaps on them too.
https://www.mql5.com/en/charts/8181063/btcusd-d1-first-prudential-markets
Actually, the whales who are manipulating the markets are trying to push the price up. The steep correction is just people taking profit, which causes a dip that makes people panic sell. What goes up has to go down.
https://steemit.com/bitcoin/@philakonecrypto/bitcoin-s-hidden-wall-holds-invisibly-strong-see-millions-of-dollars-of-btc-dumped-with-a-wall-holding
Thanks for the link. Just to clarify, are you saying the price is being propped up until the whale gets his fill and then he'll pull the props and let it go down even more?
The whales were trying to prop up the price, but they were unable too. The selling pressure was just too strong. Once the whales were gone, there was nothing to stop retail investors from panic selling and causing a massive dump.
Gotcha. So bit of a dead cat bounce today followed by some more correction?
Not necessarily. It just meant that if Bitcoin went broke below the whale buy wall 12800, Bitcoin was going to have a bloodbath, which it did.
I'm just doing an analysis of the past.