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I'm here simply stating, "Hey there is an Iceberg up ahead. AND we haven't even STARTED hitting it!" Do with that information whatever you want.
And that little "recovery" to $30K doesn't mean anything, because the whole system is about to get hit and things are going to get a lot worse. How people don't see all the cracks in the foundation is beyond me, cause it's clear as daylight.
Yeah I already know the responses "You're just a hater."
For everyone else:
You're basically tossing a needle in haystack if not. Everything will rise and fall. NORMAL.
For everyone else, hold your butt cheeks tight, cause it will be hell of a ride.
I hope someone was looking and got in that last one right now. This thing is still and has been accumulating at 28-30 and the price action is whipsawing. Bigger players see the levels and are trading them, volume shows that and I tried to explain it. Of course I'm hip to what happening of the Fed, news, economy, etc but ya gotta remember, no matter what the price or world situation is, someone is making money off of this, either on the long or short side and there are always levels, ALWAYS. Back in the pit trading days you could see faces and emotion. Now there is just volume and price.All this is fine and good if we're just talking about investing. I'm still going to hold that this is accumulating around 30k and should rip to about 31-32 then 34. I'll be thinking 13k first then 3k if it breaks under 26.4k but till then the same idea applies IMO. At any rate, pays to at least keep an eye on the 5m chart and maybe buy into a sudden knife up if it happens or look for that break under 26.4 to volume death.
Looks like we had option one. This is likely to trade at 18-20.8 now so I'd consider looking at playing off of support but only buy into a high volume run up with maybe a stop set at 17,859 or so. Keep stops super tight, small position size, decent Risk/Reward and all that to avoid a real bad time. If the death spiral continues (has to break under 17.5 IMO or else algo will prop it back), the support levels I mentioned in my earlier post would still apply IMO. This isn't a long term investors market right now, BTC is way too buried in historic resistance levels. Buy on strength, not alerts or opinions, especially mine.So BTC either all of a sudden gets propped back up to about 21k from 18k in a high volume move that will look like it came out of nowhere or this will continue the volume death spiral