Whales are preparing a huge trap for the retail traders, and you probably already know that the trap is this massive falling wedge! Falling wedge patterns are usually bullish, right? But not if they occur at the end of a trend. You probably want to trade wedges that are at the start of a trend. What's more, everyone is watching and buying into this wedge, which brings so much questions - will all retail traders get REKT again? Most likely yes, as usual. You want to do pretty much the opposite of what the majority of retail traders do to be a profitable trader.
You probably already know that Bitcoin is manipulated and controlled by the banks and huge institutions. They control the price and development. Do not be fooled that some average Joe geek from Florida eating McDonald's controls the development. Whales need liquidity to buy because their orders are so huge; they need time to buy as much Bitcoin as possible. That's why they need to push the price down to take all stop losses from retail traders.
The price is below the 20, 50, 100 and 200 daily moving averages - that's a huge downtrend! Also, on the chart we can see a huge previous rectangular range between 108k and 91k. It does make sense if the price will test this range before continuing to the downside. To me, this is indeed a risky speculation. I definitely don't want to speculate on that, because sooner or later Bitcoin will crash to 67k! I don't trust this falling wedge at all! Please tell me, what about you?
Write a comment with your altcoin, hit the like button, and I will make an analysis for you in response.
You probably already know that Bitcoin is manipulated and controlled by the banks and huge institutions. They control the price and development. Do not be fooled that some average Joe geek from Florida eating McDonald's controls the development. Whales need liquidity to buy because their orders are so huge; they need time to buy as much Bitcoin as possible. That's why they need to push the price down to take all stop losses from retail traders.
The price is below the 20, 50, 100 and 200 daily moving averages - that's a huge downtrend! Also, on the chart we can see a huge previous rectangular range between 108k and 91k. It does make sense if the price will test this range before continuing to the downside. To me, this is indeed a risky speculation. I definitely don't want to speculate on that, because sooner or later Bitcoin will crash to 67k! I don't trust this falling wedge at all! Please tell me, what about you?
Write a comment with your altcoin, hit the like button, and I will make an analysis for you in response.
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Note
The price is going up a little bit; which was expected. I drew 2 arrows on the chart. The most important thing is that this is a false move staged by whales! Sooner or later Bitcoin will go down to 67k.Order cancelled
Right now, there is an increased chance of sweeping liquidity above the previous swing highs. This can be a magnet for whales.
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💡Join my VIP group (signals, my trades)
xanrox.org/premium
✅Trade crypto here, all countries, get VIP3 and 30% fees discount, no KYC
bitunix.com/register?vipCode=xanrox
✅Trade gold and forex here
vtm.pro/IN3yiy
xanrox.org/premium
✅Trade crypto here, all countries, get VIP3 and 30% fees discount, no KYC
bitunix.com/register?vipCode=xanrox
✅Trade gold and forex here
vtm.pro/IN3yiy
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.