We'll discuss the massive pump Bitcoin experienced last night, do some Bitcoin technical analysis, and explain why a Bitcoin rally may be forming sooner than previously expected.
I have no proof here but I heard that they would have to take out the BTC futures trading if the market cap fell below 100B. Thats what it needs to be qualified. So if big money wants to keep on manipulating BTC price and wants to profit also on the downside (by shorting) in future, they have to protect this 100B market cap.
I believe that the last leg of the triple bottom that we just experienced was a fake breakout to shake the weakhanders (only in it for the money) out of the market. and Yes I agree with you, we are in the early phase of a reversal. If the market was still predominantly bearish, we would NOT have held such solid plateau at the new levels of 6250 and 6400 for HOURs as they happened. Technically, I could not be more bullish relatively from this point onward, and fundamentally, we are stronger than ever before. Great
I captured 4.33% on the first big pump before getting stopped out the I captured 2.3% on the second pump on BTC yesterday. My dedication to learning TA and trade management is starting to pay off and I’m feeling more confident.
Great work Jed, I agree with you - I do Believe in tech. analysis a lot - unless there is HUGE news - I guess the reconsolidation as per the analysis which you exactly talking what I believe is done - I was expecting 5800 level But in few days I can not see any resistance any more that shall give Bitcoin the power to surge also the sell off is going down which give BTC boost :) thank you mate all the best for all ,
The first pump got us to the normal resistance line and the second pump got us to the log resistance line. We are grinding against that log resistance line and I think we are going down. This looks like a short squeeze and it is setting up a long squeeze to get everyone back on the way down. Exchanges pocket a lot of money and everyone who doesn't use stop losses is wondering where their gains went.
People often lose perspective and lose sight of the fact that even at around $6k the value of BTC is 3X what is was this time last year. Total market cap fell to about 65 billion at one point in July 2017. I'm cautiously optimistic that we're in the last stages of the "depression" phase of the famous Wall Street Cheat Cheat. Unless I'm wrong....