Btc long at break of resistance [Generic drawing but text]
If btc finds support at either the marked area or the ma's and breaks the down sloping resistance which has provided with a heavy selling volume the outlooks for an appreciation of btc price will be looking good as per projections.
The optimistic projections derive from the logic that the majority of the market is as always extremely bearish because i assume it is within the human nature to be a destructive force as we tend to see the negatives more often than the positives.
Above being said because of the price rejections there are a lot of shorts active in the market in various ranges of value that are going to be stopped out and or liquidated knowing the immaturity and dumbfounded behaviours of the crypto-community.
As these shorts get liquidated / stopped out less market participants will be looking to enter towards the opposite of the market pressure and will either wait it out or join the trend leading to first very thin order books across the plethora of exchanges triggering a parabolic rise of price in short term because of heavy market buying.
Once the heavy market buying has stopped during the breakout price will retrace as participants will be taking their profits (talking to you hfts) before resuming the upward trend after probably a few stop loss hunts for cheaper order fills in large amounts at lower timeframes.
The optimistic projections derive from the logic that the majority of the market is as always extremely bearish because i assume it is within the human nature to be a destructive force as we tend to see the negatives more often than the positives.
Above being said because of the price rejections there are a lot of shorts active in the market in various ranges of value that are going to be stopped out and or liquidated knowing the immaturity and dumbfounded behaviours of the crypto-community.
As these shorts get liquidated / stopped out less market participants will be looking to enter towards the opposite of the market pressure and will either wait it out or join the trend leading to first very thin order books across the plethora of exchanges triggering a parabolic rise of price in short term because of heavy market buying.
Once the heavy market buying has stopped during the breakout price will retrace as participants will be taking their profits (talking to you hfts) before resuming the upward trend after probably a few stop loss hunts for cheaper order fills in large amounts at lower timeframes.
