Yes, Bitcoin has packed the $ 7,700. But how? Very thin ice!
That was a perfectly staged drama. Arrived at the upper boundary of the green downstream channel, there was a decent pump for the Bitcoin, which led him out of the downlink channel and directly over the $ 7,700. And there he is currently at 23:40 clock still.
Any price weakness was immediately (!) With proper purchases dubbed. The logarithmic 30-minute chart on the right shows that quite clearly.
Clearly, the whole behavior of Bitcoin also shows that there are certain forces in the market who want Bitcoin in a certain position. For whatever purpose.
95% of all Bitcoins are now owned by 5% of all Bitcoin owners.
What's happening right now has more to do with the free play of the big Bitcoin forces. We can only hope that not too many small, private investors will FOMO and pay the bill for the bull party, when it goes down.
If only you knew what the big Bitcoin owners do with their Bitcoin. At the long end, the price should rise.
But what happens until then? In short. Yes, Bitcoin has broken out of the green downlink channel. Yes, he has packed the $ 7,700. Yes, it could go on up.
No, the declining trading volume in the Bitcoin did not fit the upward movement and certainly not an initial break up. Personally, we believe in a controlled upward movement that sooner or later (sooner) will be followed by the drop in bitcoin.
At least the whales in their bitcoin price games are more or less keeping to the chart lines that are drawn like that. And if the chart technique were to work, then (!) The bitcoin would immediately fall in the current bearish pattern (Bear Flag).
Stand on the sidelines and watch is currently the best behavior.