In depth explaination on why BTC will rise after the 26th
So, I came up with this theory a few days ago where I analyzed BTC's chart and said "big players" are basically doing the hell they want and are manipulating the market since the launch of the first Futures.
I also stated we probably would see a drop to new lows (8k range) by the 26th of January.
I was cruising around on tradingview and read this guy's theory which matches mine and adds more value to it.
Here's a breakdown of the most important points:
▪ On 20th November announcements were spread about the Bitcoin Futures launch on CBOE and CME
▪ Shortly after that, price starts moving up strongly and market cap goes parabolic (big players who plan to go short on BTC when futures are launched ?)
▪ After the launch on CME , BTC drops insanely (guys are taking profits after they went short on BTC Futures?)
▪ On Jan 17th the CME Futures expired - coincidentally it aligns perfectly with the lowest price for the year
Now, although this is the first time we see futures in this market and this could all be a huge coincidence, I find really hard to believe it is.
Big players are always involved in big markets and have probably found out a way to manipulate this one as well.
So, what I think it will happen is BTC will swing up and down in a sideways pattern before it gets pushed down to a level where they can maximize their profits. That level will most likely be between 7k and 8k where many buy orders are placed.
What's gonna happen after the conctracts expire?
In my opinion we'll see the market rising back up. Those who have bet on BTC's drop, won't miss the train again and will load up their wallets with a much cheaper Bitcoin. Profits opportunity is much higher in a bull market.
Please consider upvoting and resteeming this post if you find it valuable.
It would be very much appreciated.
Let me know what you think about this analysis. Do you think I am delirious? 😵
Stay safe!
~Steven
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Will this then become a trend in the coin market?
Cause once the futures have expired the will hand out new ones and will this again influence the prices? Or is the effect so big, because it were the first futures?
I'd have to go with both. Being these first futures, many jumped in. Although, these kind of events could tend to repeat themselves as market is still not big enough and a selected few are still capable of manipulating the market.
This was true before futures and yet it wasn't as scary since those who were manipulating had interest in pumping the price (not saying it was good anyway). Now bankers and financial institutions have access to futures that have a huge payout if bet is won. They'll do whatever it takes to win the bet.
Thx
I don't think you are delirious, this is most likely what is happening. Don't believe in coincidences.
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