This is what the markets want us to see today. Is it crypto crashing because stock market crashes, or the way around? Or else: is the crypto market always seizing the opportunity to accompany a dump or a pump after a real world event so that retail market keeps on attributing pumps and dumps to these events rather than understanding how the market really works?...
The horizontal breakthrough went exactly as planned, but a little bit later than expected (2 hours late). Volume is falling, and it is unclear if current level can become support at all. Scenario 2 less likely, scenario 1 very likely, scenario 3 still possible.
I think Whales trying to squeeze shorts horizontally and trying to push through resistance whit limit orders on support levels. This strategy is the same which pushed btc over the resistance on JUN 26. Once shorts are met and liquidated, whales slowly push up until new shorts are met, then start to liquidate those. In the meantime try to build up momentum...
This is just my theory on what's going on. Instead of fighting their way up, btc whales are fighting for support and reversing MACD 1h trend. Instead of buying at increasingly high price, i think whales are also taking advantage of eth ramping actions. To go through resistance, it might take some time, and the battle might get rough at next MACD switch.
