Weekly activity 2018-02-19

[Malloy]

I'm trying something if you like it or have suggestion to improve it...please let me know.

The concept is simple: on the first day of the week (Monday 00:00 UTC) we could make a quick report of the recent movement/news/rumors that can influence the market and try to predict where we're heading for the next 7 days...

This is not a pure science...we don't have crystal balls...but "strong trend" are usually good for a couple days unless some big news comes up.

So for this week...weekend was pretty weird probably because of the Chinese/Korean New Years...

As explain is this video...I believe some took the opportunity to try a momentum ignition but failed...(see any chart around 05:00 and then 09:00 UTC)

Earlier we've hit a very strong resistance level and we're back now at this level...

I believe if we break that resistance level BTC 11k-11.5k USD...we should see some good upward movement all over since Bitcoin has been leading the race (again) recently...

At the same time XRP is just below its strong resistance level 1.20-1.30 USD...BTC and XRP breaking their resistance would bring  a very interesting bullish week for us...

Comments?

[Malloy]

I'm even more confident that we're at a very important crossroad level and...I can't find any place talking about it...so...

I'm either way to old to stay in the game or everyone is asleep??? lol

...maybe it's just that there's new social media channel I'm not aware off...that's a very good possibility 

[Malloy]

Without any important news...this is just a game...

Shorters were above their head and need this price down...IMO they're trying very hard to break down 10k....

The more we approach that psych level the more it's likely some will panic and sell thus taking us down much further into a fast spiral...

All seemed like a very good bear trap...we'll know if the price bounces real hard when it touches 10k (might have a quick flash crash below)...cause to be an effective bear trap you can't give the signal that it's a bear trend much longer otherwise you loose a lot of bulls and it becomes impossible to reverse the dip at this level and squeeze the shorters having that flash run effect...

Edited February 21, 2018 by Malloy