New trading range or breakout?

Updated

Notice the candle bounce off of the 200 MA?

Could this become a new trading range?

Note

Nope.. I guess not... that is a crazy laser spike. Hope everyone had positions at 7300

Note

Alright. considering the tether fiasco... If that all settles down, this idea might very well still be valid. On coinbase, and bitmex we didn't see the over-reaction of binance and bitfinex. In fact it topped out at 7000 and the 200 MA, exactly like we've seen here.

If Tether does correct though, it does kind of mean that BTC should be trading around the 6400 range on all the exchanges, and not in the 6800 to 6900 range.

Note

So the daily update on this idea.... Binance BTC is still continuing it's descent towards 6400 as TUSD corrects down to 1.04. Coinbase BTC has been holding around the 6400 level and has been seen peeking above the trend line every so often. Eventually they should synchronise again and start moving in lock-step if USDT stabilises.

ldupisani

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