The big boys just pushed the price from 8750 to 9300 within less than 2hours. NO consolidation or sells AT ALL. They pushed about 15 B dollars into the market out of thin air within 2 hours. Which crated a MASSIVE candle that need to be squared up (you can go take a look at the 1minute chart you will see that it ONLY went up).
This move made it break past the 9100 level. Reaching the next level 9300) and push through it. They are trying to get that unsquared up candles on the left (the red ones).
There is 2 possibilities here
1: BTC goes up to 9700 ish (max) and then plummets down, this could be the indication of a MASSIVE reversal (its Wednesday too (best volume day in the market)) All the way down to 8500 area, and if it break through that level like its nothing then we can expect BTC to start dropping HARD. (this possibility is backed by 2 square up candles which is BIG)
2: The big boys keep pushing the price up and they break past 9900 level to go get the 10900 level
I am betting on the #1
Follow me on telegram if you want to be updated on this trade.
Let me know what you guys think in the comment.
Komen
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BTC is about to hit that critical level $10 000 which is almost a big psychological wall. Let's see if it rebounds off of it or break through it like its nothing. If it break past it you can expect a somewhat quick run all the way up to $10 900
Komen
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BTC took care of those orders and is now fighting against the level at $10 000. If it break past $10 300 you can expect a quick run all the way to $10 900. I think we're on the very end of the 4th wave and BTC will drop below $6 000 VERY SOON. I called the down wave to $5800 at the beginning of february and I am calling this one too. The drop should take a few days at the very least. I am not trading BTC right now because I refuse to be fooled by this 4th wave and lose a big chunk of my wallet. I am going to re add at the bottom and not before.
@SuperMario4, They make it so obvious too its almost insulting.
badosanjoa
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@DENZOSS, Yeah.. I readed in some chats that this pumps are happining in GDAX. Its stay obvious into the 1M Chart.. And they don't use bots to spreed the money to don't risk the pump effect.
airswimmingape
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Not sure I understand where you put the support below 6k Denzoss based on your possible 120LTC call. Wouldn't that mean a double bottom for BTC at 6k or do you think LTC now significantly increases its value vs btc compared to last drop? Best Peter
UnknownUnicorn2029062
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@peterhowitt, I dont understand what you mean. I'm not putting the BTC support at 6k. The current BTC support is at 8600 (strong support that is). And yes When BTC drops the Altcoins recover faster (in USD value) than BTC does. Recovering from the said drop lowest point.
They drop more in USD value (in percentage) than BTC therefore they recover for a bigger amount. Because remember if BTC/USD is down 20% on a given day, it means by definition that every other BTC/X are also down 20% in USD and on top of that they lose pure BTC value. So if BTC is down 20% on a given day and LTC is down 20% as well it means LTC is down by much more than 20% in USD value. My call on LTC is LTC/USD and not BTC/LTC :).
This goes for everyone reading this, this is the beauty of trading Altcoins. They have 3 metric value, USD, BTC and their own. Always remember that when you are trading an altcoin you are trading it AGAINST something else (BTC/ETH/USD etc).
Hope this helped!
airswimmingape
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@DENZOSS, thanks Denzoss - apologies if I wasn't clear. What I mean is that if BTC drops below previous support (e.g. 4,700USD) then assuming LTC ratio is similar to last drop then LTC hits approx 85USD (0.01805535903). I note very recently the LTC ratio has accelerated up vs BTC (very quickly and unusually: 0.02679343957) however I put that down to the big fish using it to move into and out of alt coins and then quickly to fiat. For that reason another LTC pump (270-300) vs altcoins prior to a big move down wouldn't surprise. Whilst I expect ETH and LTC to gain vs BTC once this correction is over, so far BTC increases its relative ratio during each drop so expect same again for LTC. Best Peter
airswimmingape
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@peterhowitt, apologies that should have read 0.02029353834 (for the recent LTC surge).
dave36756
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Agree:
whoisthelorax
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Seems also likely that people placed market buys just above the neckline?
To fill a couple hundred Conditional buy orders would set the price straight up.
UnknownUnicorn2029062
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@whoisthelorax, normal people cant push 15 B in volume within less than 2hours though. But thats not impossible.