The Bitboy Crypto Podcast
Bitcoin Whales Making BIG Moves! (Time To Sell?)
Tue Jul 11 2023Description
The episode discusses BlackRock's positive sentiment towards Bitcoin and the increasing institutional interest. It explores market manipulation tactics used by institutions and the presence of bearish signals. The episode also highlights the consolidation phase in the market and the potential for an upside move. Additionally, it mentions Bitlab Academy courses and their impact on market sentiment.
Insights
Institutions' Influence on Market Sentiment
BlackRock's positive sentiment towards Bitcoin has caused a narrative shift in the market. Institutions like BlackRock, Fidelity, and JPMorgan Chase are now looking closely at Bitcoin.
Market Manipulation and Bearish Signals
Retail investors often get trapped and trade emotionally, which institutions take advantage of. Sharks and whales have accumulated $2.15 billion worth of Bitcoin in the last three weeks. Miners have moved a significant number of coins onto exchanges, potentially indicating a bearish setup. Bearish divergence has developed on the weekly chart, confirming potential downside risk. Tokens are moving off exchanges, indicating some uncertainty in the market's liquidity. Traditional indicators like MACD, RSI, and Stochastics show money flowing out of the market.
Consolidation and Potential Upside
Bitcoin has been holding at a key support level for over 900 days, suggesting consolidation rather than an immediate upward move. A likely liquidity washout to the downside is expected before a potential bullish resolution. Capitulating during this period would benefit hedge funds and institutions taking advantage of emotional trading. A clear break above $32,000 is needed for a confident upside trade.
Bitlab Academy Courses and Market Sentiment
Bitlab Academy courses available with 30% off using code '30'. Money flow is looking scary, waiting for reversal before feeling bullish.
Chapters
- BlackRock's Positive Sentiment and Institutional Interest
- Market Manipulation and Bearish Signals
- Consolidation and Potential Upside
- Bitlab Academy Courses and Market Sentiment
BlackRock's Positive Sentiment and Institutional Interest
00:00 - 06:40
- BlackRock's positive sentiment towards Bitcoin has caused a narrative shift in the market.
- Institutions like BlackRock, Fidelity, and JPMorgan Chase are now looking closely at Bitcoin.
Market Manipulation and Bearish Signals
00:00 - 06:40
- Retail investors often get trapped and trade emotionally, which institutions take advantage of.
- Sharks and whales have accumulated $2.15 billion worth of Bitcoin in the last three weeks.
- Miners have moved a significant number of coins onto exchanges, potentially indicating a bearish setup.
- Bearish divergence has developed on the weekly chart, confirming potential downside risk.
- Tokens are moving off exchanges, indicating some uncertainty in the market's liquidity.
- Traditional indicators like MACD, RSI, and Stochastics show money flowing out of the market.
Consolidation and Potential Upside
00:00 - 06:40
- Bitcoin has been holding at a key support level for over 900 days, suggesting consolidation rather than an immediate upward move.
- A likely liquidity washout to the downside is expected before a potential bullish resolution.
- Capitulating during this period would benefit hedge funds and institutions taking advantage of emotional trading.
- A clear break above $32,000 is needed for a confident upside trade.
Bitlab Academy Courses and Market Sentiment
06:20 - 06:40
- Bitlab Academy courses available with 30% off using code '30'
- Money flow is looking scary, waiting for reversal before feeling bullish