Bitcoin Cash Accumulation/Price Freeze Zone
Updated
This is an updated version of a private idea I posted recently, with a support line that I missed for some reason and which precisely indicates the bottom of the accumulation zone.
I think it's self-explanatory, but if you have any questions - feel free to ask.
Instruments used:
- Fibonacci Spirals
Possible Shortcomings:
- KST indicates a short-term, but explosive growth with the further decline, but currently the price is preserved with selling/buying walls.
I think these walls will continue to preserve the price for the next 3-4 days.
I think it's self-explanatory, but if you have any questions - feel free to ask.
Instruments used:
- Fibonacci Spirals
Possible Shortcomings:
- KST indicates a short-term, but explosive growth with the further decline, but currently the price is preserved with selling/buying walls.
I think these walls will continue to preserve the price for the next 3-4 days.
Note
The reason why BCH fell down so heavy and stays there is because the big players need to get rid of their BTC leftovers.They freeze the price on the majority of big altcoin trading pairs attached to the USD. The goal is to manipulate BTC-attached pairs and force people to liquidate their positions.
Then these people move to the currently trending BTC/USD pair, empowering the climbing of BTC. That is a loss-loss situation because USD-liquidated people buy an inherently overpriced asset, and BTC-liquidated people sell the asset that constantly appreciates in price.
A standard attribute of any bubble.
This will allow whales to liquidate their BTC positions at previously unseen price right before it will crash. Based on my approximate estimates done with KST, it will take ~7-11 days prior to the crash. I do keep in mind that indicators are heavily manipulated and this is exactly the case.
This market manipulation will be happening until the people with such a tremendous control over the market won't get rid of their BTC.
Then the price for Bitcoin will finally crash, as Bitcoin Cash will skyrocket.
This, of course, is done only for one and one thing only - to buy more Bitcoin in the dip.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.