CRYPTOWATCH // 06: The shakeout before the storm (May 6)
Updated
CRYPTO UPDATE: We just had a market maker shakeout; a very fast move to the downside to get cheaper prices for coins. Fast moves like this are fake and meant to trigger people to sell their coins at cheaper prices; market maker buys them and then pushes the prices back up. Classic. Looks like a big move to the upside is coming or we get a big dump. Both scenarios are possible but I do believe its time for a run up. Total market cap is at ATH and we see a double bottom... Lets wait and stay sharp... No reason to panic.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
Note
UPDATE: 2 vector candles to the upside: exactly what I thought. Remember bull markets are controlled by sellers; once there are too little sellers and inventory of the market maker shrinks; they bring the price down to re-accumulate. (we are not fully clear yet but it looks like I'm right, lets stay sharp for any scenario)Note
UPDATE: double bottom and a new ATH! This market is booming; the only thing that needs to happen is that more people drop money into BTC and not in alts. Healthy BTC is healthy market...Note
UPDATE: the storm has arrived!
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