It seems that the large level of indecision has caused a great level of sentiment in most sectors of the market.
With that said, we had a descending that took us into a whole range of 'hell' as the warning bells have been fired.
However upon looking and zooming out, I can see that BTC still has great potential to rebuild the net capital of the entire market
once again. Which should also create a rally for alts in July/August cycle.
This reminds me of the cycle XRP had before breaking $1 and with that in mind, there was a lot of wicks created to create the illusion
of a total crash. Now it seems the entire market is following this fakeout bear trend, and that we are looking to respite. NO not just
because of institutions, but also down to capitulation of investors hope.
Look I will make it simple, if the morale becomes too low, the ability for the market makers to manipulate us further, will become
less effective. We had the China FUD, the miners in peril, the nature of ECO warrior Musk.
I think it is time for a revive.
DO NOT DISCOUNT WICK RETESTS
But the likely factor of large whale positions interested in keeping their positions in profit are HIGH.
Check out this chart of the BITFINEX Shorts.
They are following the same 8HR trend pattern
in a visually broadening wedge pattern.
One aspect is to think of the total NET selling as an emotional rollercoaster
- Suddenly at drop zone point. Big green candles are recorded.
As you can see, those candles were not playing around.
the same 8HR downward behaviour, in its wedge.
We are technically on a Support/Resistance area.
This is a breakdown of what made the DOJI so interesting. The sell pressure
was there, yet we pushed to great slow lengths, which indicates bots were switched
to long support. As short term retail closed their positions and bears slowly got ninja'd with the slow pump.