Our friends from CryptoMedics send us this Market Update to share with you. We found it useful and thought you might enjoy!
We have mentioned it many times-this markets are heavily influenced by manipulation.
Now, the US is even investigating bitcoin price manipulation. Will that change anything? No, we don’t think so. If you want to understand manipulation, please go back to our APRILS NEWSLETTER– we have given you an easy explanation.So, what is going to happen to BTC? Bitcoin is not following any rules when it comes to TA at the moment which indicates manipulation. When it comes to trading we have two major players:
1) Institutional players
2) Private investors
Private investors mostly buy in increasing markets, so they basically follow the mainstream. The easiest way to make money in crypto is to buy when the market is down which would be now.
Institutional players know about this- of course they do. Before institutions enter these markets they want to see a good prices. When they enter with big money they need also many people who are willing to sell- and the easiest way to get them sell is making them frustrated by suppressing the price. At the moment we are facing a situation in which the big boys waiting for the mass to sell. This is pure psychology. It’s a going and froing at the moment. We think that we have to accept that we need a sell-off to finally see the bulls coming back. We hope the sell-off is mostly done but the chances are high that it isn’t. At first Institution need to clarify regulatory issues and accumulate positions. This is how markets works. We want to be honest with you- Bitcoin below 5k is possible. Not necessary though. However, as a Crypto patient, you should keep calm and have the long-term vision in your mind. The bulls will be back and they will be stronger than ever.
The technical perspective
BTC is still hovering slightly above the support. At this moment, no huge long positions on Bitcoin are recommended because one last correction (5-6k USD – bear in mind that 5k is also a break-even point for BTC mining in USA) is to be expected. That move should create a bullish divergence that can finally start something more positive in the crypto market as that would create a strong support for the upcoming bulls trend.
All you have to do is focus on growing your BTC position as it will pay off big time in the future. We are not going to predict the price or eat our own dicks on national TV if we fail, but too much institutional money is involved, guys…. And they are not here for a few crumbs from the master’s table.
Be patient. Five months ago you were on top of the world, and now you are desperate because the market took an imminent dive. That would bound to happen. So is a next bulls run, it just has to take some time to build up. The whales need to take profits and they still keep doing so (hence dips). After some consolidation, the market will start attracting new money from novices. The market needs money from new investors. Shilling news on crypto media outlets predicting BTC at 250k etc is a clear indicator. This money will become profit for whales and institutions soon. This may not be ethical but that is the truth, this is how the markets work. No time for noble sentiments or grouses.
Wake up and smell the coffee! Educate yourself and enjoy your profit! It requires some hard work but we are here to help even if the market is bearish!
Happily, we made a nice profit with TRX even in a declining market– thanks to our top-level analyst who constantly kept Elite investors updated. We never leave you alone with any of our recommended trades. Join Elite to get the next targets: @cryptomedicsregistrationbot
What does it all mean for you??
If you are not a day trader? Be patient. You could sell now and rebuy at 5k, maybe even lower- but are you willing to take that risk? BTC is unpredictable at the moment- so if it suddenly goes up quickly and you have sold at 7k you will panic, right? Risk management and patience is the key to success in this market. In times like these there a few things you should do!
1)Educate yourself. Learn how the market works. Try to understand trends and Market psychology. THIS IS IMPORTANT, DONT BE LAZY!
2) Manage your portfolio for the bull season. The time to structure is NOW. Everything is down at the moment. Get rid of your SHITCOINS even though you might be at a loss. Institutional money will not care about shitcoins because they like them not.