It seems that we had a whale over the weekend, looking to prop price up when was low.
You know “A new lower low at 33k will get a FOMO effect, going into next week, and I can make quick money by selling at 37k to 38k” A quick 3 mill profit.
But for those of you who caught onto the timezone of the weekend pumps! Good job!!
Currently the market is looking . We may see two peeks and then a fall, a full emerge, or a direct drop down to next support.
ETH is strong due to Landon fork (probably a buy up and then sell on news event). This will have little effect on BTC as BTC still controls the market.
Regulation -> The UK has been putting pressure on Binance and will continue the campaign. China can add some surprise FUD at any moment. US looking poised to lead the fight of Crypto cyber crimes. More regulations inbound…
Whale accumulation: Data has emerged which suggests that whales have been loading up on BTC . These are the same people who made a profit by selling in the 50k – 60k range. Now they use those profits to hold the 30k support and the last chance of preventing Crypto winter. If they did not do what they did, the market would have been .f……….. k*ed. So, good on them!
However, they might have become all bought in. If this is the case, any further down pressure under 30k could result in limited support and a sellout.
Upwards: Other than an Elon Tweet, upward price action above 37k, or an act of whales, there are very few perceivable events to pump BTC short-term.
The crash from 65k has caused: A loss of interest among enterprise and a loss of interest in retail. We can expect that continuous bad news will chip away the remaining players. After the price reaches lower levels, new buyers will have a chance to enter in the market.
Upwards (You have a zzz% chance of seeing this if the market moves up)
37K (60%), 38k – 40k (20%), 40k – 43k (10%), 43k + (10% left for Miracles)
Downwards (You have a zzz% chance of seeing this if the market moves down)
33K (60%), 30K – 28K (30%), 10% left for nightmares.