BTC going down? BTC USDT
Is BTC going down?
I felt sorry for many people because of this situation. It was really a stock market manipulation. Or so I think. Because big volume single candles can be drawn by a large whale.
First of all, I will introduce you the signature of our biggest whale on the chart.
Yes it looks like a harmonic pattern. But there are about 70 different patterns that I know about harmonic patterns.
This is different from them. This is actually a signature of the rising trend of collecting goods . In harmonic patterns, it enters the decline process after the D leg. Fibonacci levels are traversed in order. 1.27 and 1.618 are good collection points. This process does not happen immediately. It enters a downtrend and moves in steps.
But this signature is different from them. Normally, it should break the old support points and go down to the bottom, but this pattern does not give us that. First of all, it gives the impression of falling. Then we try to identify the levels. We know the price will go down here.
A measurement like this;
It's most likely a shark pattern. Actually no, this is the signature of the whale, which indicates that a new trend will start and wants to collect goods. People open short position believing that prices will fall. Of course, for this, they want to make sure that the prices will drop a little and that the decrease will continue.
When they see closes below the support level, they open a short position. People start to sell their goods. Then the whales take the goods that are sold. Crypto markets analyze where short positions will be liquid. And then all the short positions are liquid. Whales are happy with the goods they receive.
This time they believe that it will rise and they open a long position. Exchanges again collect statistics and pocket the money.
Then analyzes are made. It is thought that the descending triangle and the prices will go down as in the chart below. The wicks of the candles also point downwards. Symmetry down. Investors try to open a short position again.
Descending triangle, head and shoulders, harmonic patterns etc.
people become convinced of the down trend.
Then comes another 13% increase.
So what is the situation now?
When we look at the A and C legs in the graphic above, it is seen that this is again a shark pattern.
The level of the D leg should be 1.618 or 2.24 according to the shark pattern. It is seen that the support levels are also compatible with the Fibonacci levels. accordingly, the prices should drop to 44K.
But ;
It is also expected to rise according to the same chart. there may be a cup handle pattern with the Inverse Head And Shoulders pattern inside.
It can also be a flag pattern.
Only one question remains. Which one?
Here are the indicator values that will be useful for us
When the price is 59700 -56900, the indicator data will say it is available for purchase. When the price comes here, the rsi value will most likely be below 30, at the aroon 20 levels, and other indicators will still be in a suitable position for buying. The bottom of the channel can be thought of as a stop loss.,
Note: This is not investment advice.
I felt sorry for many people because of this situation. It was really a stock market manipulation. Or so I think. Because big volume single candles can be drawn by a large whale.
First of all, I will introduce you the signature of our biggest whale on the chart.
Yes it looks like a harmonic pattern. But there are about 70 different patterns that I know about harmonic patterns.
This is different from them. This is actually a signature of the rising trend of collecting goods . In harmonic patterns, it enters the decline process after the D leg. Fibonacci levels are traversed in order. 1.27 and 1.618 are good collection points. This process does not happen immediately. It enters a downtrend and moves in steps.
But this signature is different from them. Normally, it should break the old support points and go down to the bottom, but this pattern does not give us that. First of all, it gives the impression of falling. Then we try to identify the levels. We know the price will go down here.
A measurement like this;
It's most likely a shark pattern. Actually no, this is the signature of the whale, which indicates that a new trend will start and wants to collect goods. People open short position believing that prices will fall. Of course, for this, they want to make sure that the prices will drop a little and that the decrease will continue.
When they see closes below the support level, they open a short position. People start to sell their goods. Then the whales take the goods that are sold. Crypto markets analyze where short positions will be liquid. And then all the short positions are liquid. Whales are happy with the goods they receive.
This time they believe that it will rise and they open a long position. Exchanges again collect statistics and pocket the money.
Then analyzes are made. It is thought that the descending triangle and the prices will go down as in the chart below. The wicks of the candles also point downwards. Symmetry down. Investors try to open a short position again.
Descending triangle, head and shoulders, harmonic patterns etc.
people become convinced of the down trend.
Then comes another 13% increase.
So what is the situation now?
When we look at the A and C legs in the graphic above, it is seen that this is again a shark pattern.
The level of the D leg should be 1.618 or 2.24 according to the shark pattern. It is seen that the support levels are also compatible with the Fibonacci levels. accordingly, the prices should drop to 44K.
But ;
It is also expected to rise according to the same chart. there may be a cup handle pattern with the Inverse Head And Shoulders pattern inside.
It can also be a flag pattern.
Only one question remains. Which one?
Here are the indicator values that will be useful for us
When the price is 59700 -56900, the indicator data will say it is available for purchase. When the price comes here, the rsi value will most likely be below 30, at the aroon 20 levels, and other indicators will still be in a suitable position for buying. The bottom of the channel can be thought of as a stop loss.,
Note: This is not investment advice.
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