Re: Bitcoin price Manipulation, the impact of Bitcoin SV.
6000 $ was weaker with every bounce. It was obvious that without gamechanging news we will break it sooner or later.
If the support will hold. If not we will see 4-5k few days later. Question is - will it hold?
In my opinion there is no chance to it to hold. If market will act normal we we see 6k break in next 2 weeks. Only good news can save BTC.
Support is weaker with every bounce. Why?
1- With second bounce traders were buying on 6k to profit till 12k. Now with resistance close to 6700 it might not be worth to take risk.
2- Those who bought in february, may, with every dip close to 6k are slowly getting into half year into position without any profit. They are slowly getting bored and are looking where to sell
3- Shorters know that braking 5,5-6k will dump market instantly to 4k (stoplosses, overlaveraged longs) - big short from whale is getting more profitable and less risky - it might be easier to earn for big whale shoring at 6k rather than buiying to sell at 6500
4- all willing to buy at 6k range already did. Now we are seeing only low volume speculation
Take a look at silver few years ago and how its end up.
Looks similar to BTC? 27$ support looks as strong as 6000$ for btc
Thats how it end showing bottom at 15$. We need good news to help this support. Otherwise we will see another support at 4-5k what will postopne next pump from december 2018 too december 2019.
It was obvious for every good trader. My post from september. Support acctualy holds longer than i thought and holded for 2 months not 2 weeks (we have smart whales that simply stops selling close to support to not break it - thats why we had so low volume). Without BCH SV war we would break it too. We just made it faster (like euthanasia).
When we first time hit 6k there were a loot of buyers. Huge buy volume pushed price up. Same was second time. On 15 min candles you could see how manny investors thought that 6k is extremely cheap. Each bounce after that was weaker. There was less buy strenght. Last 2 bounces was made without strong buyers. Strong sellers simply stops selling to avoid current situation.
Now 3800 looked strong. Again we had strong buyers thinking that 3800 is cheap but panic selling break them in 10 days. Now 3400 after bart formation looks good but not as strong as 3600 was. I guess we will again break it and maybe find stronger support at 3000 or 2500. For now we need to have hope that 3400 will hold long enough.
if the support area around 6000$ holds again this time, we will be in a really good position to actually break the lower highs, we would only need a 1000$~ move to break it for the first time in basically a year.
If the support will hold. If not we will see 4-5k few days later. Question is - will it hold?
In my opinion there is no chance to it to hold. If market will act normal we we see 6k break in next 2 weeks. Only good news can save BTC.
Support is weaker with every bounce. Why?
1- With second bounce traders were buying on 6k to profit till 12k. Now with resistance close to 6700 it might not be worth to take risk.
2- Those who bought in february, may, with every dip close to 6k are slowly getting into half year into position without any profit. They are slowly getting bored and are looking where to sell
3- Shorters know that braking 5,5-6k will dump market instantly to 4k (stoplosses, overlaveraged longs) - big short from whale is getting more profitable and less risky - it might be easier to earn for big whale shoring at 6k rather than buiying to sell at 6500
4- all willing to buy at 6k range already did. Now we are seeing only low volume speculation
Take a look at silver few years ago and how its end up.
Looks similar to BTC? 27$ support looks as strong as 6000$ for btc
Thats how it end showing bottom at 15$. We need good news to help this support. Otherwise we will see another support at 4-5k what will postopne next pump from december 2018 too december 2019.
It was obvious for every good trader. My post from september. Support acctualy holds longer than i thought and holded for 2 months not 2 weeks (we have smart whales that simply stops selling close to support to not break it - thats why we had so low volume). Without BCH SV war we would break it too. We just made it faster (like euthanasia).
When we first time hit 6k there were a loot of buyers. Huge buy volume pushed price up. Same was second time. On 15 min candles you could see how manny investors thought that 6k is extremely cheap. Each bounce after that was weaker. There was less buy strenght. Last 2 bounces was made without strong buyers. Strong sellers simply stops selling to avoid current situation.
Now 3800 looked strong. Again we had strong buyers thinking that 3800 is cheap but panic selling break them in 10 days. Now 3400 after bart formation looks good but not as strong as 3600 was. I guess we will again break it and maybe find stronger support at 3000 or 2500. For now we need to have hope that 3400 will hold long enough.