THE RIGGED BITCOIN, PRICE-MANIPULATION UNVEILED!!!

10 Nov 2021

In recent times Bitcoin is showing unusual price-action as more and more banks and market makers wanting to have their stake in Bitcoin there develops abnormal price-action that should not be kept from the desk, in this case, it is necessary to be aware of such rigged price-developments and look out on what can happen in this case to not kept caught by surprised when these volatilities moving into the market. In this current situation with Bitcoin, I detected the underlying developments Bitcoin is forming and what can be derived of it, normally as Bitcoin made the new all-time-highs a continuation to the upside should follow as this is the case with proper developments however instead Bitcoin is showing signs that this continuation will firstly wait because the new all-time-high develops and a pullback back into the range happens, in this case, we can see footsteps of market makers and smart money operating in the market as Bitcoin gains more public and mainstream attraction this accelerates profoundly.

Looking at my chart we can watch there the previous all-time-high which has been established on a global basis at around the 67100 USD level from where Bitcoin pulled back and reversed, we can see a similar movement going on now just on the more local terms. As it is marked in my chart with the blue box this is the zone where people rushing into the market actually getting trapped as market makers and smart money buying extensively within the 66000 to 66500 USD range marked in my chart in orange to push the prices higher and getting innocent participants to move into the market after this has been done the market is pulling back as take profits are realized from where the Bitcoin tests firstly the previous supports and when they do not hold break below them and continue to a place where market makers and smart money accumulate anew. This was the case with the previous price-action above the all-time-high already and is now happening currently similarly. Taking this into account if the pattern prevails the next accumulation for market makers and the smart money to accumulate again is between the 63400 and 64q00 USD range.

In combination of this we can expect such pattern developments to increase within the next times and in this current case we need to keep patient and await what is coming around with Bitcoin rather than just rushing into the market. The news perspectives with Bitcoin and technological advancements are quite positive however when looking at the technical side of things this rigged development is omnipresent and this is where the gap between fundamentals and price-action happens. In a long term basis Bitcoin has still strong and solid fundamentals however on this short-to-middle-term-basis these conditions should not be kept from the desk and especially as traders in the market it is important to be aware of it. Because of the public attention accelerating and more and more bigger classical economy participants getting aware of Bitcoin there is a underlying possibility given that such furnished price-actions can hold on and even get stronger. Technically speaking it will now be crucial how Bitcoin continues here, if the breakout below the stop-loss-out-zone shows up this will actually complete the pattern on this local basis similarly as we have seen before, then it will be central on to elevate how Bitcoin approaches this set-up accumulation phase where smart money and market makers looking to move in again.