The institutional investors have being accumulating short positions since October 2020, now the price is located in a very important zone where a 1000 pip movement would be the maximum potential that I give to this short opportunity. This is the types of trades that could last several months.
The manipulation stage is still in process, the same targets from last idea are maintained.
After showing signs of premature long accumulation, already mentioned on the last idea, Bitcoin evolve to a new pattern. There will be a close look to the behaviour of price to identify if this is a pullback or a major market turn, the first target will be at 11394 $ with the possibility of falling to 9472 $
After the recent bull run, many bitcoin analyst target the old time highs (20000 $). However based on my analysis, BTC is in a very important short manipulation zone. The first objective is in the 10832 $, the full potential that I give to this movement is up to the 9475 $, it could continue even lower. The risk/reward ratio's are extremely favourable.
The manipulation process is complete, more institutional long positions are opened, a new market turn should occur with the first TP at 10705.
Short position as part of a secondary movement inside the manipulation stage in where bitcoin is analyzed.