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Bitcoin will drop below 69k. I can prove it why and how. (No one explained it so far)
$BTC started it's bearish run after reaching 120k second time. Not because of any chart pattern, war or crash. It's just a profit taking session. Retailers took their profit already, that made it's price to fall below 90k. What about big holders? Let's talk about them.
This my btc weekly analysis. It shows pretty unrealistic right? That Bitcoin will fall to 36k. But guess what still that doesn't make Bitcoin bearish. As long btc is above 36k, it remains bearish. So it's just a long term weekly and monthly. But is just technical? No, I'll explain more why it'll fall.
On Monthly chart, if you enable the Volume indicator, you'll see that from btc price 0 to 2000, between this range Bitcoin had most volume in it's historical chart. That means most of the holders or whales bought btc at that price. Which is less than 2000$ per BTC. OBVIOUSLY they bought a lot of btc. But if you check the right side of the chart, which is the the trending market. Bitcoin starts climb up to 126k. But on the bottom you can see VOLUME IS EXTREMELY LOW. even though the price is increasing, VOL remains low. Why? Because early investors holder bought one BTC just for 2000$. Suppose, someone Bought 10 BTC at 2000$, total investment 20,000$. After holding all these years as now BTC price is near 100k if he just sell 1 btc, he'll get 100k USD. Investment returned with extra 80k profit. Also he's still holding 9 BTC. (It's just story to explain the situation) What I'm trying to say is early investors, miners and whales, they're still holding 90% of their BTC. So when they'll start taking the profit you should know that market will fall hard. But you should not worry about it, they're investors they need to take profit, if they don't sell at least 20-30% of their BTC holding at this range. I don't know when they'll book the profit. Because market is falling, they'll might lose a multi million dollar profit opportunity. I believe that this is the time to take the profit.
This is my mid term analysis. I'm expecting a pump from here to 102k. Possibilities are high that market will crash from that price. But remember I'm always bullish. Because the trend support is not at 88k level or 102k level. It's above 36k level. If Bitcoin price is above 36k, it's bullish. From any questions, comment down below or chat with me. Chat Id : mp7iwx #btc70k #Binance
I think crypto market will fall again. to the nearest major support. so consider closing your long positions. we already had 3 massive wins today. relax for now, don't let FOMO Trap you.
here's why... 1. USDT.D broke it's trend support. Crypto is bullish 2. BTC Perfectly maintaining it's uptrend 3. BTC.D is on an uptrend. means $BTC will perform much better than alt coins. altcoins will rise as well. 4. market remains bearish to me, it's just swing. market moves by swinging.
I'm bullish on $BTC . if you follow my trade consider closing after gaining 50%-100% ROI. don't follow my position entirely because I'm a holder so I'll hold. my target is 98,000-108,000.
don't use more than 20% of your future fund if you're new. volatility incoming.