BTC ≈ 66K End of Week
Because BTC took out a big area of liquidity.
And it did it during the night.
Everybody woke up and shit their pants.
A lot of people went short thinking its the end of the world.
The longers got shaken out of their positions.
Their orders became sell market orders.
Probably some rich bastard used that big amount of orders as a counterparty to transact his huge orders.
The rich bastard wants to stay rich, so he will want to pump.
He will pump at least above the highs. (there are mechanisms in place that will pump it for him)
Above the highs are the bears of BTC.
They are shorting it hard because they believe that there is a strong resistance on bitcoin. Because it's been happening for weeks now.
So there are a lot of stop losses of shorters - which are the market buy orders.
If the rich bastard was to get out of his huge position he would probably only be able to do so at those highs.
Because he needs the opposite side of the trade.
Therefore I believe that we can be around 66K by the end of the week. I think it's precisely the end of the week just because the dump happened so fast, the pump should happen fast as well to wipe everyone. But to be completely honest it's mostly a guess.
I am not buying it RIGHT NOW. But I will buy it today in about 5 hours if there is a good entry.
But I still believe end of week. Also today is only monday.
And it did it during the night.
Everybody woke up and shit their pants.
A lot of people went short thinking its the end of the world.
The longers got shaken out of their positions.
Their orders became sell market orders.
Probably some rich bastard used that big amount of orders as a counterparty to transact his huge orders.
The rich bastard wants to stay rich, so he will want to pump.
He will pump at least above the highs. (there are mechanisms in place that will pump it for him)
Above the highs are the bears of BTC.
They are shorting it hard because they believe that there is a strong resistance on bitcoin. Because it's been happening for weeks now.
So there are a lot of stop losses of shorters - which are the market buy orders.
If the rich bastard was to get out of his huge position he would probably only be able to do so at those highs.
Because he needs the opposite side of the trade.
Therefore I believe that we can be around 66K by the end of the week. I think it's precisely the end of the week just because the dump happened so fast, the pump should happen fast as well to wipe everyone. But to be completely honest it's mostly a guess.
I am not buying it RIGHT NOW. But I will buy it today in about 5 hours if there is a good entry.
But I still believe end of week. Also today is only monday.
The sheep will flock to the path of least resistance.
Penafian
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