BTC 1D Weekly section: Bitcoin weekend №12

14 thg 3, 2021

Hi there, today we will continue our section "Bitcoin weekend" №12

Let's start with the fact that our previous BTC idea worked out well.

First, the BTCUSDT price broke the level of $54,100 up. Then the sharp fall of the BTCUSD price tested for strength from above the level of $54,100. Buyers actively bought back this fall and drove the price up to update the high, Bitcoin price almost reached $62,000.
The market is beginning to shake with the news: the BTC price fall was against the background of "fake" news about inspections on Binance, and already growth on the news that Microstrategy again bought BTC per $57,000.

Another interesting fact is that on 13 March 2020, the BTC low was $3,850, and exactly a year later, on 13 March 2021, a new BTC high of $61,800 was recorded. Growth for the year 1600%.

Now, what can be seen in the chart:
All growth occurs on falling volumes and it is the first and main bell that growth is artificial - the BTC price is pushed where the market manipulators need.

The dominance of BTC in growth grew by only 1% in a week. Bitcoin is growing, and the altcoins either stood still or fell, that is, a celebration of the BTC price growth at their expense.

So far, it is hard to believe that the BTC dominance will break up a powerful level of 68%. It is more believed that the 3-year channel will still break down and everything will flow in price there.

It is probable that a reversible figure of the Head and Shoulders is now being formed on the BTCUSD chart.
The base of the figure is around $42,000 - this value should be considered as the first target for the fall.
The global target of testing such a reversible figure is at $24,000 per BTC.

The BTCUSD price fall in the zone of $24,000-26,000 will fill the Gap, which was formed last year and this should not be forgotten.
It is also worth taking into account the analytics from Glassnode, which recently covered the information that the main purchases of BTC last year were in the range of $8,000-10,000.
That is, the fall in price to $24,000 will still be the profit of manipulators x2-x3.
Moreover, even if the fall will be up to $12,000 per BTC according to the fractal from the previous section "Bitcoin weekend" №11
then still large positions will be in the black.

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15 thg 3, 2021

Ghi chú

New idea:
CHZUSDT

15 thg 3, 2021

Ghi chú

ADAUSDT