ON THE EDGE - HAEDS OR TAILS?
Happy New Year to all of you! :)
As illustrated, we can see BTC hanging on the edge of a cliff.
Apparently, Black Rock and other financial institutions involved are manipulating price; however, that's only rumors until a major media source proves otherwise.
Technically speaking, the key support area is the $90,000 - $91,000 price range where we've seen BTC bounce strongly to the upside once testing it.
Don't be surprised if there's a strong selling inducement (what retails call "fake breakout"), where these bigger institutions bid the market just bellow $90,000 trapping sellers and shaking off buy-holders, and then buy back all of the liquidity at a discount price (potentially around $85,000 - $80,000).
However, the sell-inducement maneuver could cause a panic sell-off, taking price lower toward its previous maximum highs of $73,000 ; being such price range a major potential buying area for a long term HODL toward what could be a short-term target of $115,500 - $118,000 price range.
Patience is key since we are starting the year, and price "should" create the low of the year (somewhere), so it's natural and not strange for there to actually be a drop which, as a matter of fact, is fair and actually good so that everyone can get their hands on some BTC at a better price.
--
GOOD LUCK!
And I wish you all a year full of abundance and prosperity.
As illustrated, we can see BTC hanging on the edge of a cliff.
Apparently, Black Rock and other financial institutions involved are manipulating price; however, that's only rumors until a major media source proves otherwise.
Technically speaking, the key support area is the $90,000 - $91,000 price range where we've seen BTC bounce strongly to the upside once testing it.
Don't be surprised if there's a strong selling inducement (what retails call "fake breakout"), where these bigger institutions bid the market just bellow $90,000 trapping sellers and shaking off buy-holders, and then buy back all of the liquidity at a discount price (potentially around $85,000 - $80,000).
However, the sell-inducement maneuver could cause a panic sell-off, taking price lower toward its previous maximum highs of $73,000 ; being such price range a major potential buying area for a long term HODL toward what could be a short-term target of $115,500 - $118,000 price range.
Patience is key since we are starting the year, and price "should" create the low of the year (somewhere), so it's natural and not strange for there to actually be a drop which, as a matter of fact, is fair and actually good so that everyone can get their hands on some BTC at a better price.
--
GOOD LUCK!
And I wish you all a year full of abundance and prosperity.
Penafian
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