jakobgregorich

BTC and futures expiring

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COINBASE:BTCUSD   比特币
Prior to the beginning of the CME futures, RSI was indicating BTC was overbought from 11/26 to 12/18. During this period there was virtually no pull back. This coincided with the CME futures opening in which BTC entered a bear market. The FOMO which pumped BTC into extremely high RSI levels also made it ripe for manipulation. Using leveraged shorts and extreme FUD campaigns through main stream media, Wall Street investors pulled BTC downward. On 1/26 CME futures expire. These same Wall Street investors will likely buy up cheap BTC with there newly found fortunes. As for the TA, BTC is in a large bull pennant. We will likely regress down to the .236 fib level which meets the bottom of the bull pennant around $8400. The contracts will expire. Wall street will buy up the dip stealing from weak hands. BTC will breakout of the bull pennant temporarily retesting support before more upside. Target $27,000.
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