Now I show you how whales (group) make money by manipulating the market. I have whales' (group) actions in red and normies' thoughts in green.
I am curious about what kind of FUD they are going to bring to us in about 5 days.
Feb. 22 is the first workday in China after the Chinese New Year holidays. Maybe some new bans are coming? I am not going to trade before BTC drops to 4k or 5k zone or before Feb. 22. Taking less profit is much better than taking losses.
I do not expect our market to back to normal until the vaporware projects die out.
This bubble is blowing off. WHY? Because 99% of investors/traders buying cryptocurrencies here aim at making money. Only 1% or even less of people buy because they need to USE the coins/tokens. Therefore, the increasing of price is almost the only reason why people are spending their money on crypto. People who have made huge profits (ez 20x if you bought early) last year will cash out when they find the price stop rising. And fewer new buyers will come in the market when they see the price is not moving up much anymore. Will you buy more crypto if I tell you BTC will worth at most 5k EOY? The situation will only get worse and worse until we can USE crypto in real life. Before that, this is just a casino. Be prepared for losing money to big players.
I might be wrong in short-term. I can only guess what is the whales' plan. They may also change their plan if they have more FOMO materials to work with or the FUD materials can not be released on time. There is a chance that BTC goes for another bull run and even breaks the downward channel. I do not know all of that. But I do know it is highly risky trading at the moment. I will definitely not jump in. You can trade at your own risk.
I am curious about what kind of FUD they are going to bring to us in about 5 days.
Feb. 22 is the first workday in China after the Chinese New Year holidays. Maybe some new bans are coming? I am not going to trade before BTC drops to 4k or 5k zone or before Feb. 22. Taking less profit is much better than taking losses.
I do not expect our market to back to normal until the vaporware projects die out.
This bubble is blowing off. WHY? Because 99% of investors/traders buying cryptocurrencies here aim at making money. Only 1% or even less of people buy because they need to USE the coins/tokens. Therefore, the increasing of price is almost the only reason why people are spending their money on crypto. People who have made huge profits (ez 20x if you bought early) last year will cash out when they find the price stop rising. And fewer new buyers will come in the market when they see the price is not moving up much anymore. Will you buy more crypto if I tell you BTC will worth at most 5k EOY? The situation will only get worse and worse until we can USE crypto in real life. Before that, this is just a casino. Be prepared for losing money to big players.
I might be wrong in short-term. I can only guess what is the whales' plan. They may also change their plan if they have more FOMO materials to work with or the FUD materials can not be released on time. There is a chance that BTC goes for another bull run and even breaks the downward channel. I do not know all of that. But I do know it is highly risky trading at the moment. I will definitely not jump in. You can trade at your own risk.
We don't trade patterns. We draw them.
