We are in a whale accumulation zone bouncing off the huge 6000-6500 support area defined by mining profitability, tax harvesting and rebalancing season, holidays where no news is expected from alts, the 2018 chart and the all time history log chart aka the 'rainbow chart'. See my earlier explanation and prediction of this in
Many small time investors and bots are being shaken out and forced into selling to whales during this time (see individual alt charts for examples) because it is easy to manipulate the small amount of liquidity in the market and whales need to buy large positions from someone!
Predictably we will see
BTCUSD
begin to be hyped via news outlets as the Halving approaches, this will be amplified by various alts having their first 2020 related news and events which will bring both the
TOTAL2
marketcap up as well as the Bitcoin marketcap (investors must purchase $BTC to buy many alts still).
We will likely see a pre-halving dump as investors derisk profits but it will not dump back to these levels. This will create a very bullish $BTC structure for long term investment.
Things to watch for:
As always, my telegram channel https://t.me/flourishingcapital
Sign up for my trading bot (trading my own money as well as many other crypto traders since 2018) https://t.me/flourishingcryptobot?start=404755994. Bot traded 1000% real account growth in USD during the 2019 bull run: https://imgur.com/a/YJmgTfr
Many small time investors and bots are being shaken out and forced into selling to whales during this time (see individual alt charts for examples) because it is easy to manipulate the small amount of liquidity in the market and whales need to buy large positions from someone!
Predictably we will see
BTCUSD
begin to be hyped via news outlets as the Halving approaches, this will be amplified by various alts having their first 2020 related news and events which will bring both the
TOTAL2
marketcap up as well as the Bitcoin marketcap (investors must purchase $BTC to buy many alts still). We will likely see a pre-halving dump as investors derisk profits but it will not dump back to these levels. This will create a very bullish $BTC structure for long term investment.
Things to watch for:
- A pump above $8000 signalling $BTC has overcome a major resistance and ended the accumulation phase
- Resistance around $10000, if this occurs before but near the $BTC halving, sell.
- A subsequent support area around $8500 post-halving.
As always, my telegram channel https://t.me/flourishingcapital
Sign up for my trading bot (trading my own money as well as many other crypto traders since 2018) https://t.me/flourishingcryptobot?start=404755994. Bot traded 1000% real account growth in USD during the 2019 bull run: https://imgur.com/a/YJmgTfr
Join us at t.me/flourishingcapital
