BTCUSD on a short time frame (15m) is hitting new highs @ just below $7800 again and again - there's also a nice upward triangle formed suggesting the price is just about to break out above the resistance and continue upward.
Given that most players in the Crypto world would be seeing this same formation, and also considering market manipulation (it's rife in Crypto), we think BTC is about to retrace back to around $7500, this is where we would be placing our Long order, with a Stop below recent levels @ $7400.
This is due to larger players (banks, gov's, whales) knowing the majority of people will be going Long right now, so forcing the price down would remove these Longs from the market (hitting stops/fear of loss) and the big players can sweep up all the failed Longs at a cracking price and then (and only then) will the price continue along it's path above $7800, up to over $8000.
Stay tuned to see if our prediction hits the mark!
Good Luck & Happy Trading!
-theCrypster
Given that most players in the Crypto world would be seeing this same formation, and also considering market manipulation (it's rife in Crypto), we think BTC is about to retrace back to around $7500, this is where we would be placing our Long order, with a Stop below recent levels @ $7400.
This is due to larger players (banks, gov's, whales) knowing the majority of people will be going Long right now, so forcing the price down would remove these Longs from the market (hitting stops/fear of loss) and the big players can sweep up all the failed Longs at a cracking price and then (and only then) will the price continue along it's path above $7800, up to over $8000.
Stay tuned to see if our prediction hits the mark!
Good Luck & Happy Trading!
-theCrypster
