Ever wonder why we just insta-moon, randomly, COMPLETELY OUT OF THE CLEAR BLUE SKY?
That's the whales relinquishing the squeeze and giving control back to us, TEMPORARILY. The squeeze that has kept us from skyrocketing, since the 1st of April.
A squeeze is basically a power play. If there are a LOT of buyers, whales dump, and dump, and dump, and dump. They make ABSOLUTE SURE the price doesn't move by placing STUPIDLY large orders at key resistance and supports. The second they are about to lose control, they dump on us. Bam! Now you have your answer as to why sometimes we instantly drop by about $300.
If there are a LOT of sellers, they get to buy as much BTC as you're willing to offer them. For CHEAP!
Want to know why we skyrocketed so fast on the all time high? Read the lines directly above this one. Read them again, then read them one last time just to make sure you actually understand how badly you just got played.
Also, front page of TV? Most of the traders on it are fooling you. This is why it is always reccommended ESPECIALLY TO NEW TRADERS, to do your O W N research. This way, you make your OWN opinion, instead of letting someone trick you.
TECHNICALS:
RSI was FORCED down. So far down in fact, that we now have a LOT of room to go up. If you think the RSI going vertical downwards was something to behold, wait till you see what it does when the dildo appears. Guess what? We're only days away from it. The RSI, the MACD, and any other indicator known to man is about to become 100% redundant for a GOOD while this weekend.
HIDDEN BULLISH FUCKING DIVERGENCE. EPIC, and I mean EPIC hidden Bullish Divergence. As a matter of fact, the buying momentum since April 1st has been so strong, the whales nearly lost control. Why do you think out of nowhere yesterday, $5,000,000.00 dollars of BTC was dumped on the market? To ENSURE we didn't dildo too soon.
The TTM Squeeze indicator just on the 6 hour alone, shows over 36 hours straight of squeezing going on to the left side of my chart. GOOD LORD DO I LOVE THIS PARTICULAR INDICATOR.
Believe it or not, when we apex this weekend, we are INSTANTLY going to 10k, M I N I M U M. Probably 12k.
We won't even blink at the resistance we've been trying to break for almost 2 months.
Please people, remember, I'm an amateur. An amateur that is about to make you the most money you have probably ever made in this market, ever. E V E R.
Today, when we insta mooned? Multiply the strength of that by about 100, and you have the strength of BTC's buying power come this weekend. Ironically, I'm giving you an extremely conservative multiplier.