This thing will never take off until the bears and the bulls are satisfied. Both of them work to the fibonacci.
The price managed to break the 0.5 twice already, but there was never enough momentum to carry on to a higher high as the bull whales didn't get their entry, possibly the FOMO was larger than expected, possibly the whales drawing in some fresh moonboy$ caused the correction in the correction, either way, it's got to go back to their buy zone.
Now it's broken yet again and lost the trust of the bulls, the bears have it!
There is an area of strong resistance created from previous market structure at around 9000 (the milestones are always important psychological S/R)
There is a chance that buying pressure could take over again, and the bear whales could lose control, but the price WILL touch down here, if it doesn't drop further back into the golden ratio!
The golden ratio, 0.618 stands at 7818, this is from the all time weekly fibs, if I were a whale, that's where I would be! ;-)
Of course, once they are all happy, all that institutional money flooding in, super FOMO because now i'ts in Trumps Tweets and on the evening news we are in for a moonshot, even if the actual purpose of that moonshot is to dump that old,slow,useless Bitcorn onto the noobs, moonboys and retail, and buy up some super modern hightech altcoins like XRP and XLM!
How does stage magic work?
MISDIRECTION!
The price managed to break the 0.5 twice already, but there was never enough momentum to carry on to a higher high as the bull whales didn't get their entry, possibly the FOMO was larger than expected, possibly the whales drawing in some fresh moonboy$ caused the correction in the correction, either way, it's got to go back to their buy zone.
Now it's broken yet again and lost the trust of the bulls, the bears have it!
There is an area of strong resistance created from previous market structure at around 9000 (the milestones are always important psychological S/R)
There is a chance that buying pressure could take over again, and the bear whales could lose control, but the price WILL touch down here, if it doesn't drop further back into the golden ratio!
The golden ratio, 0.618 stands at 7818, this is from the all time weekly fibs, if I were a whale, that's where I would be! ;-)
Of course, once they are all happy, all that institutional money flooding in, super FOMO because now i'ts in Trumps Tweets and on the evening news we are in for a moonshot, even if the actual purpose of that moonshot is to dump that old,slow,useless Bitcorn onto the noobs, moonboys and retail, and buy up some super modern hightech altcoins like XRP and XLM!
How does stage magic work?
MISDIRECTION!