Pierre LABREZE me-retweet

#Bitcoin - Full Market Breakdown
In Depth Technical and Psychological Analysis
After a 16% move to the upside from 108k to 126k in just 10 days, Bitcoin is now accumulating right below the current ATH level preparing for another push higher. I continue to see a lot of people calling for a cycle top trying to convince themselves that they are right and this is just a bull trap. This is a huge mistake.
Just yesterday BlackRock bought $1.2bn worth of BTC while last week they purchased $3.3bn worth of BTC. This passive buying from BlackRock will only become more and more aggressive in the next few days and weeks. These gentlemen don’t care about your beautiful technical analyses with Fibonacci levels. They have unlimited funds and play their own game. They want more and more BTC and they keep sucking up all the liquidity within the market. Yesterday buying was simply a warning for bears and today small retrace is the opportunity given by market makers for bears and doom callers to exit their positions before the squeeze higher.
Remember how the breakout of 110k happened. After a leg up from 100k to 110k, the market went sideways near ATH for a few days, retested the EMA200 4H, and then broke out with a god candle. The exact same pattern is being printed again, yet most fail to notice and remain trapped in their bearish dreams. I am therefore expecting to see a retest of the EMA200 4H before we start moving into price discovery again. As I have said many times before, there is no imbalance in the market, so why would anyone be short knowing this? The people who are short are simply greedy and trying to catch a market correction to get the feeling that they finally beat the market, but since they are shorting into no imbalance, they will only repel the dump and actually fuel the next leg up as they close shorts and open longs with max leverage, just to try to recover what they lost in their current nonsense shorts.
It's important to note that the USD is now bouncing from the lows and this is being used as an argument by bears. I therefore leave a question for all the bears and doom callers reading this. How will USD strength (DXY) react in the next few days/weeks when Powell becomes fully dovish? Last Friday we got the ISM Services PMI data showing that inflation will only start heading down in the next reports while the labor market will continue to weaken heavily. We already received the worst job market ever recorded a month ago. Everyone who understands the basics of an economy knows that the Fed has to cut rates in such circumstances, and rate cuts make the USD devalue and therefore all assets who trade against it, move up. This argument will be used by bears only for a few more time until they realize that rate cuts will happen on a mass scale and the dollar will take a shoot to the downside first before any move higher.
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