What happened to bitcoin? Normal dump or manipulation?
Updated
XBTUSDXBTUSDBTCUSDBTCUSDBTCUSD
BTCUSDTWell, I see a lot of people talking about bitcoin manipulation when there are very sudden movements, it's not for me to say whether this is true or not. But if in the conventional markets that go through regulation, still happen manipulations, why in bitcoin would not happen? But what really matters to me is the information shown on the chart, with or without manipulation, it shows us everything we need to know.
In my opinion what happened is something very simple to be explained, come on!
Bitcoin went from $3330 (February 6) to $4190 (February 23), at a 17-day interval a fairly consistent climb of about 26%, and I say consistent because the bulls were clearly in the lead throughout the period, no leaving place for the bears, the biggest correction in this time before today's decline had been less than 5% which is not much significant for the bitcoin price movements that historically have great volatility.
The fact is that the bulls came to an exhaustion after staying for all that time holding the prices and sustaining the rise, in yesterday's movement it became very clear to see a bearish divergence in the MACD and RSI that already signaled the fall and in my view it is important for the moods to calm down in the market and the bulls can act consistently and bring the price back up to $4000.
The price has shrunk exactly to 0.5 fibonacci and in my view, the furthest that correction can get is up to $3659 (0.618 fib).
The price is currently perfectly using the ichimoku cloud as a support in the 4h chart. And in the 1D chart the price made a retraction playing perfectly at 20MA.
I see no reason to panic and now it seems a great time to start refilling the bags, starting with a purchase at $3755 and leaving another buy order below close to $ 3662. This second order serves as support to protect our position making a good average price if the price retracts up to 0.618fib.
In the next comment I'll send the detailed long call!
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God Bless!
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#BTC #BTCUSD #XBTUSD Buy-Long: 3755- (now) and at 3672 (2 orders)
Leverage 7x
Target:
1st: 3862 (+20%)
2nd: 3981 (+42%)
3rd: 4085 (+62%)
SL: 3622 (-17,5%)
Trade active
Do you think we will reach all targets? Please tell me your opinion! Are you bullish or bearish now?Trade active
Price still holding fine above 0.5fibTrade closed: target reached
Price retrace to 0.618fib as predicted and then reached 1st target
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