BitcoinLong
BTCUSD - Back to Monday Morning Gap
This whole move is just your standard capture all profits on long positions now they start buying back all the way to the top again.
They come up with any old news to concoct these moves.
Soon it will be "Is there enough bread in shop's OMG Panic !"
All we ever here is how Robust the US Economy is and how Strong it is and next minute OMG Recession after getting a bogus increase in unemployment, they do it all the time they could have spread it over the last 3 months but they hold it back to manipulate the Market, even if u believe these numbers we all know they are manipulated, like Food Price Inflation we know that first hand we pay more like 30% - 50% even 100% increases on food and everyday products we buy, yet they say its 2.2% Yoy LOL LOL LOL yer right !
Recent Drop in Bitcoin (BTC)
1. Economic Data: Weak job reports and fears of a looming recession have heightened market volatility, leading to a sell-off in Bitcoin.
2. ETFs and Institutional Moves: Significant outflows from Bitcoin ETFs, such as $237.4 million on August 2, 2024, have added selling pressure.
3. Market Manipulation: Actions by large investors and market makers, including strategic sales by influential figures, have influenced market sentiment and price movements.
4. Technical Factors: Bitcoin failed to break above key resistance levels, leading to corrections towards $59,300, and is currently testing the 200-day moving average.
5. Global Economic Concerns: Rising government bond yields and concerns about the devaluation of the Chinese Yuan have impacted Bitcoin's price.
Outlook and Probability of Recovery
Given the current analysis, there is a moderate to high probability around 60-70% that Bitcoin could recover and fill the opening Monday morning gap.
They come up with any old news to concoct these moves.
Soon it will be "Is there enough bread in shop's OMG Panic !"
All we ever here is how Robust the US Economy is and how Strong it is and next minute OMG Recession after getting a bogus increase in unemployment, they do it all the time they could have spread it over the last 3 months but they hold it back to manipulate the Market, even if u believe these numbers we all know they are manipulated, like Food Price Inflation we know that first hand we pay more like 30% - 50% even 100% increases on food and everyday products we buy, yet they say its 2.2% Yoy LOL LOL LOL yer right !
Recent Drop in Bitcoin (BTC)
1. Economic Data: Weak job reports and fears of a looming recession have heightened market volatility, leading to a sell-off in Bitcoin.
2. ETFs and Institutional Moves: Significant outflows from Bitcoin ETFs, such as $237.4 million on August 2, 2024, have added selling pressure.
3. Market Manipulation: Actions by large investors and market makers, including strategic sales by influential figures, have influenced market sentiment and price movements.
4. Technical Factors: Bitcoin failed to break above key resistance levels, leading to corrections towards $59,300, and is currently testing the 200-day moving average.
5. Global Economic Concerns: Rising government bond yields and concerns about the devaluation of the Chinese Yuan have impacted Bitcoin's price.
Outlook and Probability of Recovery
Given the current analysis, there is a moderate to high probability around 60-70% that Bitcoin could recover and fill the opening Monday morning gap.
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