PT 3 Bitcoin New High Being Discussed by Big Financial Institutions; New Low in Sight?
At the time of this post Bitcoin is sitting at 8g’s. According to chart analyst the current prediction is a downward trend which has the weak hands a little nervous . But on the flip side there seems to be a lot of hype right now for the discount if you catch my drift ;) While all the Youtubers are spreading FOMO to their followers saying that we are in a bull run (even though we clearly are not) I do not blame the Youtuber, I blame the person watching because they failed to do their own research. Enough of the bullshit, lets get down to the good stuff! New predictions are coming out. According to the RSI stoch, 50 day MA, 200 day MA and a couple other indicators momentum is being lost. Translation “we going down bitches!” Lol But don’t get it confused, there have been plenty of warning signs. I know, I know you’re sitting there like wtf am I talking about. In English we are basically trying to find the new low, the new buy point. As of now the charting community has a bunch of different price predictions but they can all agree we are going to see a new low. What is it you ask? There is still a lot of resistant pressing downward. The 50 day MA is making sure of that. So far our low was $6,400 but I personally feel that new low will be $5,800. Now I’m no financial advisor so keep in mind this is just my opinion!
Going back to PT2 of this post, could this be the big boys or nah? Leave feed back in the comments.
Until next time people Cryptoboss420 signing out! Peace y’all
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It has to be big boys. The volume charts are embarrassing! Someone definitely drove it up, more than once, and took it down, too. It's probably more than one group, but it's not exactly a rational market, which gives me the willies trying to do any technical analysis. Who's leading whom?
But I agree - it has to test the 6000 area again, and who knows if it'll hold. At one point it felt safe at 6900, but that went to hell rather quickly.
I believe they believe they fucked up !!! By not getting in at 8 cents shit I regret it lol .. but BTC is easy to move with the right amount of money and with a-lot of uneducated people in this game makes it hard cuz they get scared off ... But they will be back but at the high which sucks ! Can Waite for the up trend Tho
Did you just see that? 2000 coins suddenly traded in a few minutes. That's tens of millions of dollars.
no where did you see that at ?
gdax
I was watching the Bitcoin ticker and suddenly a huge buy order came in from nowhere - drove the price from 8000 to 8100 in a few minutes. You look at the hourly volume charts and you see it all the time - these big spikes in volume - obviously whales.