So after a couple of days instead of there being a second reversal, I agree on the proposal that the price will go to number sub-200. My main argument comes from the linear regression pattern, but other users have come to the same conclusion with other methods.
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I am displaying the chart with log scale, so the regression upper and lower bounds are distorted.
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Depending on how willing you are to assume price manipulation, I think 300 USD is being forced. Let's see where it goes from here.
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Interpreting this is difficult. I don't know if the price wants to go down, but whales stop the drop.
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Maybe it is going to drop this time for good?
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The bull trap/leg ups are getting shorter and relatively smaller.
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The gates might have been opened. Down to 279 USD and 265 USD is the next stop.
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Current resistance is around 272 USD.
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The 5 minute candles had gone on a bull mission, but the charts are reseting towards all scales in bear mode. Expecting a big move in the next hours.
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The 272 USD level might be over now. Going down.
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Bears are really pushing down on 260 USD. After 260 USD… things could get interesting.
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Got to 259 USD, which makes me think that the psychological support for this level is also broken.
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While we wait for the next drop, I'd like to share what I'm learning about wave theory. (Not the Physics Wave Theory.) Here is a cap of what I think is an N wave.
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Considering the neighboring scales and the price squeeze going on, I think the next move is coming soon. Maybe 1 or 2 hours. My guess is that it will break down.
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The move was up, surprisingly. Back to 260 USD oscillations.
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Closed to take profit. It might rally a bit up, so I'll reopen later on. The macro trend still looks bear to me.
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This could be the end of the run, or near it.
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From here the downtrend could resume. Among the reasons is the American holiday.
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So the update is that I'm still short. I took profit like 2 times already, but this will keep on going down. Right now it loves 262 USD. I think that once it goes below 250 USD, things will get really interesting.
Extra note: Looks like a descending triangle.
Extra note: Looks like a descending triangle.
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This is about to pop. It's closing in on the break, so unless it decides to flatline until eternity, movement will come. Big movement.
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Took profit at 244 USD and waiting for a bounce or a new leg down to reopen.
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As you have noticed, some weird shenanigans are going on. I closed at 240 USD against that wall. I'm waiting to see what the wall owners decide to do, or those who bought against the wall.
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Not much to update. Still crawling to that sub-200 target.
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Hit 220.50 USD on Kraken. Experience tells me it will bounce from here, but as I tell people, a trend is a trend until it isn't.
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Happy sub-200.
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So it didn't hold sub-200. (Whales feasted.) I wouldn't short right now. I'll wait for the direction to set in. My guess is we could see a bounce to 230's, maybe 250's.
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So the previous comment said 230 USD could happen. I'm beginning to think that 230 USD would be more like a spike than a rally to it. The price around 200 USD is moving a lot like 300 USD on Jun 30. (Check the comments!) We might see some of this dance again.
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After hours of oscillation, this might make a leg down to 170 USD and make a double bottom. If it does, the sentiment is a bounce to 250 USD. Otherwise, we might shoot down to 150 USD. Either way, this trade fulfilled its purpose!
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The jump to 230 USD was successful and now I think the bear trend will resume. I'm still not sure of how low it can go, but considering how weak the rise felt, 140 USD wouldn't surprise me.
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By the way, 140 USD is not short term. More like the next thing coming.
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Deflated to sub-200 USD now. Might be looking to test the 180 USD walls that are spread throughout many exchanges. My bet is that it will break 180 USD.
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Bitcoin making a rising wedge just right above the support. Brace yourselves.
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Manipulation fixing the prices at 191 and 2200. I have no idea of what to expect.
Trade geschlossen: Ziel wurde erreicht:
Reached 140 USD.
This was the last update.
This was the last update.
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It turns out I cant delete posts, so I'll just spam a donation address. Send me your ETH here 0xF7Dc813B5c746F777DD29c94b7558ADE7577064e.
