As we all know, the next futures CBOE will be expiring on the 27th of September. When the last futures expired (March 13th), We slowly started to see a rise in Bitcoin. Until, the 31st which started this bull run by 1 whale buying a copious amount of bitcoin. Suspicious. Anyways, I expect 1 of 2 things to happen. Either we dump to the abyss. and I mean low. That way, whales can make money (FIAT) by shorting btc like crazy, then picking BTC up for the cheap price. Then they long it to hell with BAKKT. The second option is, we stay within this triangle. Then, once the contract ends, we start to move towards the upside. The start of the crazy bull fever.
We saw how that diagnoal trend line supported us on this daily, I am guessing it will support us until the 27th. Thus, if you are a SCALPER, we are at the bottom of the triangle, meaning, if the whales want us to STAY in the triangle, the only way from here is up.
:)
Please let me know what you think of this analysis. What are your thoughts, specifically in relation to scalping these next few days.
With Kind Regards,
Sheng
We saw how that diagnoal trend line supported us on this daily, I am guessing it will support us until the 27th. Thus, if you are a SCALPER, we are at the bottom of the triangle, meaning, if the whales want us to STAY in the triangle, the only way from here is up.
:)
Please let me know what you think of this analysis. What are your thoughts, specifically in relation to scalping these next few days.
With Kind Regards,
Sheng