The Hope of Bitcoin. Rests on the shoulders of *Weak Support*
Hello traders,
As I have have been detailing in my charts once BTC Dominance is above 50% now currently 54.4% be prepared to see the retest of the swing low at $5760 and the inevitable break a most likely play in the cards. I would not be surprised to see a solid bounces on the way down but to swing low but I believe it will ultimately break. I am surprised to see the fast demise of the entire crypto space. Take a look at for example $257.70 USD (-11.81%)
My current most bearish scenario of $4900-4800 and possible see a further deeper correction seeing how fast Bitcoin has been tumbling.
*I would never tell anyone to short support unless it breaks.* We also have to take into account the fact shorts are at an all time high and again its possible someone cheats out there and sends a large buy order to exchange and liquidates them which caused the last run up from $6800 and the bounce in April.
The warning signs have been clear that I've been details for nearly two weeks that the market makers (large investors) have all been slowly draining the alt market and pumping some of the money back into BTC (though less and less of it.) Just by watching the market cap which is at $191 billion now it was obvious what the plan was. As expected pump BTC high as they could which turned out to be $8500 and now push it back down to swing low/break it and bring the alts back to what they looked like before the last bull run and prepare us for the next run up. I expect this bear market to last to around September 15 2018 so possibly a good 30 days. I'm sure we will find bounces on our way down while the market burns its self out all the way down.
Everything we provide is free and for the betterment of the community. Please give us a like and a follow. Remember everyday, new data. We are very limited to what we can type here but Bitcoin needs constant updates especially in this market check out signature for more details.
Play the market don't let the market play you. Lets take back the power!!
If you want to educate yourself, come find us...
Stay Frosty.
Decentralized Live News
As I have have been detailing in my charts once BTC Dominance is above 50% now currently 54.4% be prepared to see the retest of the swing low at $5760 and the inevitable break a most likely play in the cards. I would not be surprised to see a solid bounces on the way down but to swing low but I believe it will ultimately break. I am surprised to see the fast demise of the entire crypto space. Take a look at for example $257.70 USD (-11.81%)
My current most bearish scenario of $4900-4800 and possible see a further deeper correction seeing how fast Bitcoin has been tumbling.
*I would never tell anyone to short support unless it breaks.* We also have to take into account the fact shorts are at an all time high and again its possible someone cheats out there and sends a large buy order to exchange and liquidates them which caused the last run up from $6800 and the bounce in April.
The warning signs have been clear that I've been details for nearly two weeks that the market makers (large investors) have all been slowly draining the alt market and pumping some of the money back into BTC (though less and less of it.) Just by watching the market cap which is at $191 billion now it was obvious what the plan was. As expected pump BTC high as they could which turned out to be $8500 and now push it back down to swing low/break it and bring the alts back to what they looked like before the last bull run and prepare us for the next run up. I expect this bear market to last to around September 15 2018 so possibly a good 30 days. I'm sure we will find bounces on our way down while the market burns its self out all the way down.
Everything we provide is free and for the betterment of the community. Please give us a like and a follow. Remember everyday, new data. We are very limited to what we can type here but Bitcoin needs constant updates especially in this market check out signature for more details.
Play the market don't let the market play you. Lets take back the power!!
If you want to educate yourself, come find us...
Stay Frosty.
Decentralized Live News