First chart so don't shoot me plz... I'm one of those who can't really get his head around the so many different charts and this and that clouds which makes things more complicated. perhaps they work better with altcoins but BTC is like a big slow Elephant so you can follow his moves.
So as I see 99% of the people are bullish on BTC everywhere ( and they say it will hit 100K soon) which is fine, but the chart says different things. First is the big pump heading up all year in 2017 with the big sell off in Dec 2017 with the CBOE and CME futures listing news (buy the rumor, sell the news )- clearly pumped by billionaires. So if you look at my chart you can see the clear price manipulation followed by a monthly trendline since 6th January:
one month pump, next month dump.
Have you noticed that BTC goes down for a month then up for a month and it is roughly ends at each every 4-5th of the month?
January 6th - 17500
Feb 5th-6th - 6050
March 5th - 11560
April 5th - 6400ish
May 5th - 9962
Clearly visible manipulation, and at this moment it looks like it's just heading now to 6900 around the 5th June (perhaps 1st of June as it's a Friday)
Use trendlines on your chart and you will see. also see the similarities in the middle of the trendlines around 12th March and as of yesterday 15th May, they look identical. So my point is all the bulls on twitter doesn't want you to sell, they already did, they just shorting BTC with leverage and make lot of money on it.
If I would be a big whale I would clearly grind the market down slowly in months until people will get fed up and they will sell all their coins, then I would start the pump cycle again. Perhaps I'm wrong but no-one can tell you what's going to happen next, only big whales with billions in their pockets... stay safe out there, secure your profits in this bear market.
So as I see 99% of the people are bullish on BTC everywhere ( and they say it will hit 100K soon) which is fine, but the chart says different things. First is the big pump heading up all year in 2017 with the big sell off in Dec 2017 with the CBOE and CME futures listing news (buy the rumor, sell the news )- clearly pumped by billionaires. So if you look at my chart you can see the clear price manipulation followed by a monthly trendline since 6th January:
one month pump, next month dump.
Have you noticed that BTC goes down for a month then up for a month and it is roughly ends at each every 4-5th of the month?
January 6th - 17500
Feb 5th-6th - 6050
March 5th - 11560
April 5th - 6400ish
May 5th - 9962
Clearly visible manipulation, and at this moment it looks like it's just heading now to 6900 around the 5th June (perhaps 1st of June as it's a Friday)
Use trendlines on your chart and you will see. also see the similarities in the middle of the trendlines around 12th March and as of yesterday 15th May, they look identical. So my point is all the bulls on twitter doesn't want you to sell, they already did, they just shorting BTC with leverage and make lot of money on it.
If I would be a big whale I would clearly grind the market down slowly in months until people will get fed up and they will sell all their coins, then I would start the pump cycle again. Perhaps I'm wrong but no-one can tell you what's going to happen next, only big whales with billions in their pockets... stay safe out there, secure your profits in this bear market.
Comment:
To add to the above, I can see BTC first going down to touch 7800, then back up to 8450 within days, then slowly going to 6900 within 2 weeks. But this is only my idea.
Comment:
Just a note how the price of BTC is tamed. The following dates were the CBOE XBT futures settlement (expiry) dates and their closing prices:
02/14/2018 - 8600
03/14/2018 - 8660
04/18/2018 - 8250
05/16/2018 - 8225
Clearly not coincidence is it?
02/14/2018 - 8600
03/14/2018 - 8660
04/18/2018 - 8250
05/16/2018 - 8225
Clearly not coincidence is it?
Comment:
I have marked the CBOE settlement dates with red circles so you can see it's midway on both monthly uptrends and downtrends. If my prediction right we are heading down to 6900 in the first days on June .
Comment:
Just another note, the run up from 5500 in November 2017 to 19805 and back down to 6000 in Feb 2018 was more then 95% retrace.
The run up from 6000 to 11650 on 5th March and back down to 6500 on 5th April was around 91% retrace.
If it plays out for the third time then the run up from 6500 to 9990 will go down to 6850 in the first days of June.
see below:
The run up from 6000 to 11650 on 5th March and back down to 6500 on 5th April was around 91% retrace.
If it plays out for the third time then the run up from 6500 to 9990 will go down to 6850 in the first days of June.
see below:
Comment:
Perhaps I'm wrong, but it's another possibility which can play out: after the pump in Nov 2013 BTC went downhill in 2014 and if you have a look on 20th May it had a massive spike. the fractals are almost identical where we are now, also if I have a look on the trendline we are in the zone where we should bounce in a day or two.
Comment:
My first target was lower than it went (7800 and it went only around 7950) but just hours ago it hit 8535 . As you can see from the chart below it is what exactly happened 2 months ago. Expecting it to slowly dump to 6900-7000 levels. But who knows, perhaps it will climb higher to 8800 but don't think so (no volume)...
Comment:
it looks like we have reached a turning point on 29th May around 7050 for a small bull run(10%) but I'm still expecting a dump on the 5th June for a trend reversal, but I don't see going lower than 7100 so it might be a good entry point for going long.
Comment:
it seems whales had their 10% and now heading slowly down in the next few days, lets see if this plays out to around 6900-7100 on the 5-6th June.
Trade closed manually:
Not sure what to expect from the market but doesn't look promising, but if the 704-7050 was the bottom then we are possibly going up for another month if whales want to close the CBOE future around 8200 level. But at this moment there are 30600 longs and 22700 shorts on Bitfinex so they might trick people with a small pump then dump it on the long holders so we can see the price going to both directions this week.