See chart for comments
Uwaga
The Current ChannelIt feels like it will sink lower today
and if whales attack tonight.. then for sure
Alert for BTC 32k be ready
Uwaga
These short red lines...Those are my predicted resistance for drops
they worked perfect this morning
but a 'stop' does not mean full reversal
Uwaga
Just showing you..how valuable it is to know your R&S prices (stop prices)
here is a classic small bounce at a red line yet AGAIN!
Uwaga
Note: these resistance and support prices are KRAKEN...Uwaga
Again...showing downward repeated downward pressure against a resistance
Uwaga
Thinking Price would fall..I was gearing up to watch what support red line would catch the falling knife.
But I was wrong!
Instead, the BTC support at the red line was solid.
And though it made many attempts to break past....
When the price cannot break past a super strong support...
Yes.. it goes the other way to 'test' the next upper resistance.
In the short term.. We went up.
However, I am still worried about whales tonight.
The price going up just makes the fish look more tasty.
Uwaga
I redid the trend linesStrange enough, the new peaks and lows form a nice channel once again
Uwaga
BTC 34590That is the 21 Day SMA
We fall below that... very high probability we are going dive to 33k and 32k
No big whales arrived.. but retail buyers are not defending price very well.
Perhaps institutional investors will jump in,.. but right now it is not looking too good for the bulls.
Uwaga
I watched this rescuewhales saved us in two separate moves
we were dead in the water...
Uwaga
The really awful thing about BTC running up like this- it's all institution driven
- most of the alt coins are sliding backwards or doing nothing
- strong BTC runs can suck the life out of the entire market
Uwaga
On the positive sideMany of our favorite coins were sliding backward just before the run and this latest leg pulled them up a bit.
However, some alt coins 'deflated' and price is not where it was the last time we were at this BTC level. Such is fault of buyers flakey loyalty when BTC is running hot.
Uwaga
Take Cordano as an exampleIt was trading smoking hot late last night and the days before. Was edging to run to 0.60
Then we slid down and then we were rescued by the institutional investors just now.
Yet look how the price is so much lower in ADA, in spite of the fact BTC was just restored to a higher level than it was when it corresponded to ADA's higher prices.
Note: ADA high prices are inside the channel that I drew.
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