In a sense, and since our last update of the cryptocurrency market and technical analysis for Bitcoin, we have only one conclusion: we cannot rely on our primary instincts because the institutions make theirs from nothing.
We also learned something: it is important to always trust our own studies and follow them to the letter. We say that, because in the last update we had done we had already foreseen the movement that the market was going to make the days ago. So sometimes giving ears to the opinions of third parties can be, if we are not careful, it can be fatal.
That is why today we bring you the market update and the daily analysis of Bitcoin and so, you can continue with the exact sequence of what we have described to you from months ago when we started this Rubika Ventures project.
Win Or Lose
To summarize this story, it was really surprising how approximately 2% entered the market from USD $279 billion (current market closing value) to USD $293 billion today, placing a pleasant climate in the atmosphere that after the unexpected fall those 2% left as they flew away.
We recognize then that this is a win or lose game. There is no middle way. But please institutions send an alert to the sardines of the market. That ton of red candle from days gone by really scared many.
From the above we learned something. The warrior may be full of courage but if he is not prepared for battle, all that awaits him is death.
Death nobody wants to talk, we know that. But that there is a fear in the market, it exists. Many investors are now placing money with the greatest care in the world.
Manipulation Is Not Over
It is clear to many that this last red candle in the daily bitcoin chart means pure manipulation coming from the big players. We talk about those people who have the greatest control of the market.
The hypothetical of the case is that on the same day the Binance exchange has entered into maintenance without prior notice. Very weird don’t you think?
Anyway it is good to warn everyone, that during that big crash over $1.5 billion got liquidated on BitMEX, biggest hourly liquidations — $118m.
That was really the worst kill of bulls anyone had ever seen. Much blood was shed but under the oath of not knowing until now the real reason for the fact.
Following the logic, Bitcoin from our perspective continues in the overbought zone with divergence towards low points. We know that a few, many institutions will be liquidating their positions and long before halving.
On the other hand we have to tell the market’s mouths that please stop saying nonsense. What are we going to many spoke of a golden cross, but if we analyze well, that had already happened a few days ago when the EMA50 crossed the EMA300 on the daily chart. The crossing of the MA200 with the MA50 for us means the opposite. Then please investigate more.
By that, we mean that we are still really in a danger zone where everything can happen. We then continue on a correction wave in the E zone of Wyckoff with the possibility of touching 61% of the Fibonacci retraction line in the next few days.
See you in the next review! With love 💛 Rubika Ventures Team!
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Remember, investment in cryptocurrencies or other assets has a moderate risk, so it is important to have a detailed study of the possible scenarios before placing your money at risk.