BTC price in the fake news era: >12k or <10k?
Updated
I believe we're at a critical crossroad here. There's an apparent resistance at the 0.5x fib level (11.9k on Bitfinex, higher elsewhere). We can see high sell walls in this neighborhood.
This prompts us to think whether another round of selloff has been planned. Surely, this will screw the poor more & transfer wealth in the "right" direction.
See, if BTCUSD goes above the .618x level (12.5k), it'll cross the weekly EMA, officially ending the decline of the past days. To initiate another round of selloff afterwards would be seen as a general bearish reversal. In that case, the rebound wouldn't be as quick & the market makers couldn't make money as quickly as they do.
To ensure that level isn't crossed, a better insurance would be to ensure that the neckline of the inverted H&S isn't cross. That's the 0.5x (11.9k).
If we go below the shoulders (.236 / 10.6k), further drop to 8.8k would be in sight.
Not saying this will happen, but if it does make sure to long hard ---> that would be a planned dump & pump to screw small investors. Of course, more fake news will help this process.
Btw, we're also seeing a bearish divergence at the moment.
This prompts us to think whether another round of selloff has been planned. Surely, this will screw the poor more & transfer wealth in the "right" direction.
See, if BTCUSD goes above the .618x level (12.5k), it'll cross the weekly EMA, officially ending the decline of the past days. To initiate another round of selloff afterwards would be seen as a general bearish reversal. In that case, the rebound wouldn't be as quick & the market makers couldn't make money as quickly as they do.
To ensure that level isn't crossed, a better insurance would be to ensure that the neckline of the inverted H&S isn't cross. That's the 0.5x (11.9k).
If we go below the shoulders (.236 / 10.6k), further drop to 8.8k would be in sight.
Not saying this will happen, but if it does make sure to long hard ---> that would be a planned dump & pump to screw small investors. Of course, more fake news will help this process.
Btw, we're also seeing a bearish divergence at the moment.
Note
Where is this guy now? youtube.com/watch?v=1YCVZPBhrjQ
Note
dumping pretty hard now. may see 4 digits again.Note
seems to be holding within the range. perhaps another dump isn't in the playbookNote
I guess either tonight or in the coming days there'll be a quick dump & then huge pump. Reason? We're now seeing a resistance below 12k, and the CME futures will mature next week. People are going to get scared and think another crash is coming. Bear trap can thereby be set.Note
Appears to have penetrated the .618 ---> probably the quick dump was that of earlier yesterday, not over the night (meaning it already happened when I posted it).Note
Just a thought: this recovery is probably driven by the us government shutting down.They can't shut down crypto. They shut down themselves. This is the market's line of thinking
Note
For once it's real news & it doesn't work :DOnly fake news drive the market as expected; real news do the opposite.
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