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BTC for COINBASE:BTCUSD by ChiranjeevChhabra

In the last 2 months, we saw price getting heavily manipulated by the whales,

in my last blog , I have mentioned BTC won’t drop below 30K level and even if it does it will not stay there for long

Let’s look at those 5 days where price dipped below or near 30K area and then retraced back up – forced panic selling and people got rekt

Candle 1 19 May 2021

Where the day started with heavy selling, Price dipped from 43591 to 30000, making an enormous 13591 USD move

However, price quicky moved back up and closed at 36731, retracing 50% and left people trapped on the wrong side of the market

Candle 2 23 May 2021

The down move continued and the price once again tried to dip below 30K. created panic and the same thing happened.

Whales came back in around 31111 area and bought more BTC at lower prices and before the daily closing price moved back up and retraced 50% closed at 34758

Candle 3 8 June 2021

Even more manipulation and buying the dips continued – at this day price retraced 77%.

Price dropped to 31004 and quickly recovered before the daily closing at 33402

Candle 4 22 Jun 2021

After price found support at 30K area people thought price will not go beyond 30k and they started putting buy limits at 30 k in a hope that if the price comes down again they can enjoy some decent gains

Whales did an awesome job to manipulate and they pushed the price way below 30k to 28757 left people with no option and selling at the cheaper price to the whales, after acquiring all the BTC they wanted

They moved the price higher to 32538, retracing 82% before the daily closing

Candle 5 26 Jun 2021

After acquiring cheaper BTC whales again tried to push the price below 30k, this time the overall movement was not that big, but they still pushed the price below 30 k

Acquired more BTC and retraced 82% before the daily closing

People who were trading intraday futures on leverage suffered huge losses. I am expecting another whale manipulation before price breaks the 41K barrier

Keep buying the dips. HODL is the only strategy to create long term wealth

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