CRYPTO NEWS : BITCOIN'S NEXT MOVE 08 04 2018

There are a lot of theories going around regarding Bitcoin's next few moves.

It's quite evident the market is being manipulated heavily, likely by a single entity. This is not unusual at all, nor should it be feared. Instead, it gives us the opportunity to get into their mind, rather than haphazardly guess at randomness of the markets.

A powerful entity can paint whatever short term movements they want. These "Bart patterns" we keep seeing are just algo bots chopping up over leveraged retail traders. I find it unwise to challenge or try to make too much sense of the short term fluctuations.

So what can we all agree on? We're in a bear market. It is abundantly clear the trend is down. So clear that the everybody and anybody is now shorting Bitcoin, providing liquidity to the long side.

Those in control need liquidity (orders to fill) in whatever direction they're trading. At this point there are fewer and fewer trying to buy / long Bitcoin, giving "them" less opportunity to cover there shorts.

I think those in control will attempt to turn the market around here, just long enough to liquidate all of the late shorters under $6600, and possibly even stop out those who shorted at $7500. I am definitively still bearish and expecting us to go lower. Most of my crypto trading money is sitting still in fiat, waiting for a lower dip.

In the mean time however, I am watching for "those in control" to break through the immediate trendline resistance, triggering retail interest to buy back in. Shorts will begin to close, bottom shorters will be margin called, and this cascade of events will pump the price of Bitcoin up into "their" eager asks.

have a great day