BTCUSD ~ Possible last FUD dump for big money to accumulate
Diupdate
This is a highly speculative post.
I just have a feeling, that we havent been in this range long enough, for the elites to buy what they want.
This crash was extremely manipulated for big money interests to get into bitcoin given how many of them have finally realized it is the apex asset of the human race and they needed to get in.
Elites and big money of course - dont buy assets at the top of a big pump - they want good prices to get their entry.
So on rolled the FUD campaign...
Anyway, thats old news now....
On to the prediction here: I think we are going to hit our heads on this resistance level (which we are doing right now while I write this) and range down to the lower support.
One major driver of sell pressure has been the chinese miners. China is indeed cracking down on miners, and this time, chinese miners have really had enough - many of them are already moving out of china now.
The majority of sell pressure in the last few weeks has been from them. They are also selling off mining machines, and I am putting something together to buy a bunch and increase the size of my mining farm substantially with highly discounted mining rigs.
But anyway that is what is going on from what I can tell, and I think there is still a big enough supply of cryptos that the chinese miners need to offload. More of them are making the decision over these days going by that they do actually have to shut down mining operations in china and either move elsewhere - or just exit the industry if they cant access infrastructure and electricity in other countries. (Khazakstan has just seen a chinese miner move over there and begin building a 60M mining operation for example....but I know that many chinese miners arent going to leave china to continue mining, they'll just exit and sell what they need, to wrap up costs and close their businesses).
We could be going up further and it would be good to see, but there is still sufficient selling pressure coming in over the next weeks and possibly month that there will be good buy opportunities (i mean, technically, you could buy right now and its still a great opportunity in the long run...)
Lets see if the sell pressure is enough to withstand the immense buying pressure!
Those miners still do have access to sell their coins OTC so it might all be done off the books.
My goal: accumulate as much more as I can while these prices are at all-time-lows.
We arent going to see bitcoin this low ever again, and many alts still have 150% moves back to their previous ATHs which makes them very good buy targets too.
I just have a feeling, that we havent been in this range long enough, for the elites to buy what they want.
This crash was extremely manipulated for big money interests to get into bitcoin given how many of them have finally realized it is the apex asset of the human race and they needed to get in.
Elites and big money of course - dont buy assets at the top of a big pump - they want good prices to get their entry.
So on rolled the FUD campaign...
Anyway, thats old news now....
On to the prediction here: I think we are going to hit our heads on this resistance level (which we are doing right now while I write this) and range down to the lower support.
One major driver of sell pressure has been the chinese miners. China is indeed cracking down on miners, and this time, chinese miners have really had enough - many of them are already moving out of china now.
The majority of sell pressure in the last few weeks has been from them. They are also selling off mining machines, and I am putting something together to buy a bunch and increase the size of my mining farm substantially with highly discounted mining rigs.
But anyway that is what is going on from what I can tell, and I think there is still a big enough supply of cryptos that the chinese miners need to offload. More of them are making the decision over these days going by that they do actually have to shut down mining operations in china and either move elsewhere - or just exit the industry if they cant access infrastructure and electricity in other countries. (Khazakstan has just seen a chinese miner move over there and begin building a 60M mining operation for example....but I know that many chinese miners arent going to leave china to continue mining, they'll just exit and sell what they need, to wrap up costs and close their businesses).
We could be going up further and it would be good to see, but there is still sufficient selling pressure coming in over the next weeks and possibly month that there will be good buy opportunities (i mean, technically, you could buy right now and its still a great opportunity in the long run...)
Lets see if the sell pressure is enough to withstand the immense buying pressure!
Those miners still do have access to sell their coins OTC so it might all be done off the books.
My goal: accumulate as much more as I can while these prices are at all-time-lows.
We arent going to see bitcoin this low ever again, and many alts still have 150% moves back to their previous ATHs which makes them very good buy targets too.
Catatan
bull flag printed, with possible target.......has only closed 1 daily in the breakout though and i still believe we are going to have one more manipulated FUD dump(i'm hoping for it too! i want to buy more!)
Catatan
still hasnt broken horizontal range hi though, either, so....bullflag print might be a fizzle.......Catatan
BTC at a critical level here, needs to break back into the rising wedge and break above 50D EMA to go up to 48k.OR...
it will break down to 32k
Catatan
Catatan
Just gotta show this......1) This is the LOWEST that MACD has EVER BEEN in bitcoins ENTIRE HISTORY....
2) MACD just formed a BULLISH CROSS ("GOLDEN CROSS")
Catatan
that MACD is on the DAILY, btw....DAILY and WEEKLY are the most important long-term-trend signals, so....Catatan
funny how my yellow lines held perfectly over the following ~20 days since I posted this......but we are re-testing support before going back up and still havent broken the key 42k zone....so might be another week or two of sideways chopCatatan
My update on BTC over the last month is basically that the grayscale bitcoin unlock happening from now until mid-late-July, is going to keep prices down AND (IMO) give us one last big dump before we resume the bull market on all timeframes.When I last posted, I didnt take this into consideration.
Since then I have heard a lot about this unlock happening and big/smart money isnt buying much right now because everyone expects that if we can keep prices down and make bitcoin chart look ugly, then all the dumb money / retail traders who bought GBTC are going to sell - causing ~16k BTC to hit the market. Or so we think. But I also tend to agree with this.
Why?
Because (1) Retailers who buy GBTC are dumb enough that they buy a bitcoin trust fund rather than real bitcoin; and (2) many of them are still in profits since they bought their GBTC below 20k or even below 10k, so they will want to cash out. (which is still idiotic, because as soon as they do, price is going to double/triple in the following months).
So - put your orders in at 31k down to 26k. I personally think we will possibly see a wick down to 27k but I dont think we will break that.
The amount of buy interest at 30k and below is MUCH bigger than 16k BTC being unlocked. Even just the investors I know personally are going to be buying more than that amongst themselves!
Get your bags ready! This is the last real gift that crypto and bitcoin will give us.
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