Why is there a long candle from 6828$-8096$?

anhchangdeptrai13

jr. member

Activity: 84

Merit: 5

Quote from: atrocityx on April 14, 2018, 02:05:08 AM

Well regardless of the reason it was a short squeeze for sure. Question is where do we go now.. do we push up and out of the 8400 massive resistance or do we go back down again for yet another position trade? I want opened a small short position at 8100 but a tight stop at 8351 . I'm more hesitant than normal after this surprising candle. I know charts in a lot of ways measure human sentiment over anything else, but what is this chart really telling us? My heart wants to break up and go for the 11s but my brain is telling me here we go again down. I'll put my money where my brain is but my hope where my heart is. Hope my heart wins.

The current market is no longer fomo but switched over to FUD. This causes BTC sideway.
1. The first is Altcoin is increasing. It will increase the BTC slightly, as many people will buy BTC to buy altcoin.
2. As altcoin grows, sharks will sell altcoin as they have been buying bottom prices for a long time. They will transfer altcoin through BTC. Then pump the BTC to take profit.
=> The market is going up slightly so sharks take profit from BTC and altcoin. Then the market will continue to bleed.
This my opinion Grin

Sharks want to kick of old people out this market who have have had much experience ( FUD, not fomo ). They will putting bitcoins on low prices for long periods of time. Then they raise BTC prices to add the newbie with fomo mentality to the market.

atrocityx

member

Activity: 336

Merit: 71

Well regardless of the reason it was a short squeeze for sure. Question is where do we go now.. do we push up and out of the 8400 massive resistance or do we go back down again for yet another position trade? I want opened a small short position at 8100 but a tight stop at 8351 . I'm more hesitant than normal after this surprising candle. I know charts in a lot of ways measure human sentiment over anything else, but what is this chart really telling us? My heart wants to break up and go for the 11s but my brain is telling me here we go again down. I'll put my money where my brain is but my hope where my heart is. Hope my heart wins.

anhchangdeptrai13

jr. member

Activity: 84

Merit: 5

Many people think that this is a artificial pump of the shark when the market and most traders expect the BTC to fall below $ 6000.
This is exactly the shark's impact, specifically the exchanges.
The exchanges kill short margin. Most traders are short on margin and expect BTC prices below $ 6000. The exchanges has killed the margin by the way is make a candle from 6600-7500$ to kill most of the margin at the x10 command. There is a resistance of 8200$ in technical analysis. So most traders want to break into the $ 7500-8200 range to profit. Then there is a technical pump to $ 8200.
This is not exactly a fake pump out of sharks up to 8200. Which has the effect of increasing the technique.
When the market has too many good technical analysts, the market will go with a large size People should not be overly technical
This is just my subjective opinion in analyzing market sentiment. May be true, may be wrong.

"Technical analysis is always right, but when there is a lot of analysis right, the market will deviate. Do not be too confident and follow the crowd."

Topic: Why is there a long candle from 6828$-8096$? (Read 145 times)