Bitcoin - mid term view

I do believe that our correction is not done yet. We haven't seen correction and true bottom yet.

• Recent run from 6.5k to 10k does not look organic. I do believe it is a bull trap. Huge pump by the whales. Whales do not buy BTCUSD as an investment, they are buying it to sell for 30%-40% of profit.
  
• BTCUSD is losing momentum. We are hovering between 6.5 to 10k. We do not have enough momentum to reach higher highs anywhere soon.
  
• A lot of manipulation by "market makers" and common TA does not really always apply. It is easy to manipulate markets when volume is so low.
  
• 4800 could be perfect retracement to reach higher highs in ear future.
  

Komentarz:

If we are considering volume, it is dropping month by month. This indicates lack of interest at the current prices and Bitcoin in general. Without additional volume, we cannot push over 10k-11K and higher (no matter what TA says). A lot of money is going into shitcoins, instead of bitcoin. This is pushing prices down as well.

Unfortunately, supply and demand rules will apply. At the current moment, there is a lot of supply, but not enough demand. Sooner or later sell-off will start and we will find bitcoin hovering around 4k-5k for quite some time.

Komentarz:

This is my main idea now. C is still in progress. However, we might see strong bounce soon due to short squeeze that might happen very soon. After that, we will reach our final targets.

Note how shorts formed beautiful cup and handle.

Transakcja zamknięta: osiągnięto wyznaczony cel:

Target reached. Let's see if we go down more or here we have bottom.