BTC shorts are at one of the highest points since they began. Altcoins are in the dumpster, morale is low in a lot of the crypto community. Market caps dwindling. How would a whale/s play this?
Well, quite a few ways, but I'll go out on a limb and say what I think will happen-- consolidation within range. Volume is very low, momentum lacking. DMI is hugging. At the mercy of the whales. Right now, on h4 we're below both 12& 26day ema, right around the 12. Seller volume decreasing and trend strength weak. Bear's game all the way.
Perhaps a trap of some shorts with a spike into 64-65? At this point we see a lot of scalping. I won't even rule out a push up to the 68-7 range after a few days of tightening, though I find it unlikely.
Now, Dragging things out into consolidation might be the best option. Let people believe the bottom is found and things are cooling off for the next upward wave. I see tighter movements as volatility restricts without massive liquidity.
I've watched the last 2 major waves play out similarly, but tighter price ranges each time, offering an upward price movement for relief for the downtrodden. Is the Hype waning? A weeding out of less seasoned individuals? Who knows.
I'll keep watching support of 5777 to 5300 range and 51- below if the bears decide to steamroll.
In this particular market, there isn't much that can surprise me. I think going the "expected" straight down route is less profitable for the Big movers. It's a matter of how much money is placed on which direction.
Again, overall...I see no massive upward price action coming any time soon, but "massive" is relative, after all.
Do not expect 10k BTC ANYtime soon.
Well, quite a few ways, but I'll go out on a limb and say what I think will happen-- consolidation within range. Volume is very low, momentum lacking. DMI is hugging. At the mercy of the whales. Right now, on h4 we're below both 12& 26day ema, right around the 12. Seller volume decreasing and trend strength weak. Bear's game all the way.
Perhaps a trap of some shorts with a spike into 64-65? At this point we see a lot of scalping. I won't even rule out a push up to the 68-7 range after a few days of tightening, though I find it unlikely.
Now, Dragging things out into consolidation might be the best option. Let people believe the bottom is found and things are cooling off for the next upward wave. I see tighter movements as volatility restricts without massive liquidity.
I've watched the last 2 major waves play out similarly, but tighter price ranges each time, offering an upward price movement for relief for the downtrodden. Is the Hype waning? A weeding out of less seasoned individuals? Who knows.
I'll keep watching support of 5777 to 5300 range and 51- below if the bears decide to steamroll.
In this particular market, there isn't much that can surprise me. I think going the "expected" straight down route is less profitable for the Big movers. It's a matter of how much money is placed on which direction.
Again, overall...I see no massive upward price action coming any time soon, but "massive" is relative, after all.
Do not expect 10k BTC ANYtime soon.