Bitcoin Is Headed Toward $35,720... Whales vs Retail!

19 Eki

After 75 days of bullish action, Bitcoin is still trading within a lower high below $70,000 (29-July). This tells us that all the action between 5-August and present day forms part of an inverted correction. No new highs means bearish.

Current price action confirms that there is no bullish momentum.
Current price action confirms there are no buyers at these levels and even whales have a limit, they are running out of buying power.

You can manipulate Bitcoin's price and push prices up artificially, hoping that people will jump in and start buying to later sell when a wave develops, but what happens if no real buyers show up?

This manoeuvre can turn into a very costly manipulation play, unless of course you are also active and ready with a SHORT.

The truth is that the manipulating whales will not lose and that's ok, nobody cares about that, but it seems people are not stupid enough to buy at the top. Or maybe they can't because they already bought in February, March, April, July, etc. and are waiting for 100K and yet 100K doesn't show up.

What would be the best way to say it...

Bitcoin "needs" a correction?
The market "wants" a correction?

Or is it that people are just too smart nowadays to get caught in the same game that has been repeated over and over again?

In the past you just needed two TV commercials, a news article and positive review and everybody would rush to buy at the top. Right now, it seems that people are ready to study an entire cycle just watching from afar and waiting until being ready before taking action. You can't fool us anymore.

You can say it will go up not to 100,000 but to 3,000,000 and nobody cares. We've been fooled before, not by Alan, but by the big names.

All the big names gave us signals that were perfectly timed to be perfectly wrong. They told us over and over, for years, nah, for decades; sell at the bottom and buy at the top. We are at the same juncture once more.

The whales are desperate telling us to buy, but we can see clearly that prices are up. When prices hit bottom, they say it is the end, "it is not too late to sell everything" some even said, and then everything goes up.

We are fine, we can wait; in fact, we don't have any other choice. We learned through experience and we know better than trusting media personalities when we have our own minds, our own brains and we can reach conclusions on our own.

There are no kids around, we are all adults.

We will wait for the crash and buy when prices are low. You can take your profits but you can't fool us anymore.

Namaste.