Bitcoin Monthly (Whales Ready For $200,000,000,000USD Profits)

3 авг.

Good day my dear friend, it is the weekend now but I am still here with you. Let's read this chart together focusing mainly on candlestick reading.

We will go through the entire bullish cycle until we reach the present situation and share our view as to what is the most likely scenario based on the reviewed data; but first, let's see why things are the way they are.

The mega whales are in the process of taking profits. These mega whales are the ones that are always promoted on the media. Entities such as BlackRock, MicroStrategy and other institutional players. There are many, many of these but they are not as public as these two mentioned. There are hundreds of these mega whales.

The mega whales are preparing to extract between 100 and 200 billion USD from the Cryptocurrency market. So the total market capitalization can go down in excess of 1 trillion... Yeah, I know! Crazy numbers.

The first profit wave is very simple: The LONG side. They've been buying for years and they've been buying recently. From 40K to 60K you have a 50% rise. This can be taken advantage of in many ways, there is no need to detail those.

Then comes the bearish wave. They know it is going down because they are going to sell and thus, the SHORT side with leverage. Seeing this, we start to think and wonder if they will want to produce the lowest price possible to buy-up again.

The good news? The lower Bitcoin goes in the incoming crash/capitulation, the higher it goes in the ensuing bull market bull-run.


Bitcoin Monthly Technical Analysis

➖ From September 2023 through March 2024 we have only green candles. Bullish wave, an impulse. It is so easy to see when grow is happening because all of the candles are green.

➖ April 2024 is the bearish signal and bearish confirmation. The red candle this month closes lower than March's open.

➖ The next two months prices start to move lower. A clear descending triangle forms after a new all-time high, a clear warning.

➖ Last month, July 2024, we have a Doji. This Doji produces the lowest price since February 2024 and also another lower high compared to previous months.

➖ August 2024 is the decision month. The month starts red and is now trading below the two previous months open and close price. Being honest, based on TA and candlestick reading, anything goes at this month. What happens next isn't clear as long as Bitcoin trades within the triangle, but this is only if we focus exclusively on this candle. Taking the whole price dynamic into consideration, the entire bullish wave, the market cycle, trading volume, the elections, the stock market and experience, we know that the whales are not yet ready to gift trillions of dollars to the masses. The way it normally works, the big players take the big money home while the general public (you and me) carry the loss. This time it won't be different.

👉 August 2024 will be a negative month and September 2024 will hit a lower low compared to August. September can produce a long lower wick and then close higher but August is likely to end pretty bad. Think of February but red.

And that is it... I hope you find this information useful and entertaining. If you do, feel free to follow.

Thanks a lot for your amazing support.

You are appreciated.

Namaste.

6 авг.

Заметка

Whales are still looking to sell around 20Billions worth of Cryptocurrencies, specifically Bitcoin. The Altcoins are a different case. This can further depreciate the market.

Prepare accordingly.