BTCryptowatch
Long

7500 BTC New bottom bounce?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
dont know where to start?
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BEGIN ANALYSIS:

Bitcoin             has a sell of thats going gradual, we dont see these all out dumps anymore as like several weeks ago. We can assume that insitutional money (whales) have sold most of their holding higher up and are not step by step scaling back in buying up lows to prepare for the bullish reversal.

Currently we see a big buy wall at 7500 USD. This will, if the buywall stays in tact, create a bounce of around 1 to 1.5K at least. Since the daily candle will be closing in about 2.5 hour we can expect to see a nice 3rd daily pinbar forming a solid rejection of lower lows. You know, with bitcoin             you never know but markets are calming down for sure.

I will be closely looking at the buywall at 7500 usd, if it doesnt dissapear this wall is valid ( manipulation is pretty normal in crypto and financial markets, buywalls can dissapear and the bounce may start lower than expected in that case but we are not expecting a 1500 bitcoin             wall to be Fake.

Remember, Placing a BUY limit order around the buy wall area of 7500 USD is a great way to increase your portfolio holding in a matter of minutes but it is VERY RISKY! if the market decides to push further down and you panic sell you could lose a big part. Keep that in mind.
Trade safe,
Comment: The 7500 USD buywall of 1500 BTC dissapeared completely

there is a lot of manipulation going on in this market people be aware of that. Reasoning is large investors may want to enter crypto s at very low prices

Trade safe,
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