BITCOIN WHALE MOVEMENTS SIGNAL CRYPTO MARKET BOTTOM IS IN, SAYS ON-CHAIN ANALYST WILLY WOO!!

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Bitcoin price dumped on Friday as the news appeared to rattle markets, sliding almost 10% and bouncing off support at around $7,000.

Cryptocurrency exchanges operating illegally in China face a new threat after the central bank announced it would take new steps to uphold its trading ban.

In a statement on Nov. 21, the People’s Bank of China warned it was taking action against entities allegedly involved in trading cryptocurrencies such as Bitcoin (BTC).

In a Twitter debate on Nov. 21, commentators joined forces against Peter Schiff, who shared with $1,000 BTC price prediction. Schiff: $1,000 would “complete the pattern” for BTC

Arguing current price action correlated to a “head and shoulders” formation, the gold bug forecast a dramatic downturn would characterize markets in the future. He summarized:

“Bitcoin is nearing the neckline of the head-and-shoulders top I pointed out before the Oct 25th 40% pump. The right shoulder is now shrugged and the neckline slanted and parallel to the shoulders. If it breaks the price objective for the dump is $1,000 to complete the pattern.”

In other Crypto news todays, popular Crypto analyst Alex Kruger called the Bitcoin price dump yesterday, in which he tweeted the following:

“BTC needs to rally or it will crash. How brilliant, right? If it doesn’t go up, it will go down! I’m aware non-technical traders are repelled by this way of thinking, so let me break it down. Mind this is NOT financial advice, just sharing my thought process. I’m often wrong.”

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

Some asked “why did this happen?”A rationalization:#1 China news used to drive price +42% (front-running expected new demand)#2 Price dripped lower on low volume=>increased demand never materialized

#3 Sellers sold every single rip. They just did.https://t.co/TmVfeMCGXE

— Alex Krüger (@krugermacro) November 22, 2019

https://cointelegraph.com/news/ok-doomer-peter-schiff-is-convinced-bitcoin-will-now-crash-to-1k

https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges

Tom Lee of Fundstrat recently tweeted,

“A lot of ‘signal’ past few days in crypto and #bitcoin

– China (friendly policy) – New ATH S&P 500 (positive)

– Bitcoin Misery Index bottomed 10/24 at 36 and rebounding (positive)

– Massive price gain on $BTC friday (signal)

Interim ‘risk-off’ ended, and bull market resumes.”

Bitcoin has largely held on to gains made over the weekend and remains almost 25% higher than it was trading late last week.

A number of industry observers have been typically disparaging, calling it a manipulated pump and dump but as yet markets are holding steady.

In other Crypto news today,

China is in the midst of a new blockchain boom.

Cryptocurrencies got a boost, and so did blockchain-related stocks.

What’s next?

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

News Resources From Today’s Show:

A lot of ‘signal’ past few days in crypto and #bitcoin– China (friendly policy)– New ATH S&P 500 (positive)– Bitcoin Misery Index bottomed 10/24 at 36 and rebounding (positive)

– Massive price gain on $BTC friday (signal)

Interim ‘risk-off’ ended, and bull market resumes.

— Thomas Lee (@fundstrat) October 28, 2019

$BTC has moved +42% today– 4th largest gain in history and largest since May/10/2011 (if comparing against daily returns).– 15th largest two-day gain in history, Nov/18/2013.Thank you China.

President Xi is the true Crypto Dad.

— Alex Krüger (@krugermacro) October 26, 2019

Ahahahahahhaha, now on Chinese CT ” Fuck ETF, fuck Bakkt, fuck Libra, none of these BS will pump, only we Chinese pump with real money, the only way to pump”

(excuse me for the F word… try my best to translate from very Chinese slang)

— Dovey 以德服人 Wan 🗝 🦖 (@DoveyWan) October 28, 2019

3/ Articles saying blockchain technology is a scam are now BANNED.

Who still remember the days when posts promoting blockchain getting deleted real fast? pic.twitter.com/W5iRJ3PDYS

— cnLedger (@cnLedger) October 28, 2019

https://cointelegraph.com/news/chinese-cryptocurrency-mining-giant-files-for-400-million-ipo-in-us

https://decrypt.co/10832/7-ways-china-boosting-blockchain-what-it-means-for-bitcoin

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Vitalik Buterin enters ‘Beast Mode’ with the deadline for the gradual launch of Ethereum 2.0 just around the corner.

In other Cryptocurrency news today:

The Bitcoin price pumps to $8,800, only to crash $500 back down to $8,800 in a ‘Logistical Move’ according to Crypto trader Scott Melker.

Are Altcoins ready to explode?!

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🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

News Resources From Today’s Show:

Ethereum 2.0 Critics Call The Entire Network “a Scam”

Buterin in ‘Beast Mode’ as Work on Ethereum 2.0 Continues

https://cointelegraph.com/news/bitcoin-price-hits-88k-only-to-crash-in-a-logistical-move-trader