Good morning all, I know some of you might wake up and lose your shit over today’s SHIB price. DON’T FUD OUT!
Take a look at these two charts one is a BTC chart the other a SHIB. Notice that BTC dropped 19ish% in the middle of the night. Look at that wick down! Same wick over on SHIB. If you look at other charts, you’ll see that same big wick down. ETH fat wick down, Matic, fat wick down. Mana fat wick down. And so on.
BTC DRIVES THIS TRAIN! And this is a clear sign of market manipulation, IMO. If you look at Bookmap from a few days ago, you’ll see there was a ton of liquidation points at this level. What does that mean, traders, going FOMOing into longs leaving their liquidation price in this $42k zone for BTC. So, the market makers, in this case, looks like the Asian market, made the move to drop the price and take out all of those traders. A shit ton of day traders got fucked on this move, trust. My point is when the “market makers” decide to make a move on BTC it impacts almost every other coin.
We may go lower. It may be a setup for a reversal. Why? Because traders are now fomoing into a shorts thinking the price will go lower, putting their liq points higher. The whales wait for this confirmation before making the move to the upside to take out all those shorts. I haven’t really looked at the bookmap today, haven’t even had coffee yet. But if I had to guess, it’s probably filling up with sell orders.
THIS IS NOT FINANCIAL ADVICE.