Bitcoin (BTC) Needs another pump if it is to break 6550.
Updated
After the crazy move up, Bitcoin is once again in low volatility. This zone is a good place to enter positions in preparation for the high volatility that is expected to occur.
Currently 6500+ is a zone of very strong resistance for Bitcoin, and if they do not pump the price well beyond 6500, expect a move down. There has been 80 million USDT moved out of Binance Cold, which may or may not have an effect on price. I have noticed there has been 40 million moved to Binance hot pre 6200 pump.
The BAS is extremely bullish right now for both Finex and Coinbase. The BAS was correct in calling the 6500 dump and the 6200 pump for me.
Bitfinex has been buying back a ton of their USDT tokens at a cheap price and sending it back to their treasury. For now do not touch USDT as there is no way to know what will happen. There are better stablecoins such as PAX and GUSD. Both seem to be a better alternative to USDT as both are approved by regulators.
You may short Bitcoin at 6550 and have a stop loss above that price if a move above happens. There is no good way to play this, but I would recommend having a a very high liquidation price on your short.
Currently I am long Bitcoin with a very small position.
I believe the bottom for Bitcoin is 4600-3500, so my long positions are never held for very long.
Thanks for viewing! I am collecting members for my private discord group. Please private message me to enter. I will post all my open positions and reasoning there. We also have Xue who will help predict what whales in HK are doing.
Currently 6500+ is a zone of very strong resistance for Bitcoin, and if they do not pump the price well beyond 6500, expect a move down. There has been 80 million USDT moved out of Binance Cold, which may or may not have an effect on price. I have noticed there has been 40 million moved to Binance hot pre 6200 pump.
The BAS is extremely bullish right now for both Finex and Coinbase. The BAS was correct in calling the 6500 dump and the 6200 pump for me.
Bitfinex has been buying back a ton of their USDT tokens at a cheap price and sending it back to their treasury. For now do not touch USDT as there is no way to know what will happen. There are better stablecoins such as PAX and GUSD. Both seem to be a better alternative to USDT as both are approved by regulators.
You may short Bitcoin at 6550 and have a stop loss above that price if a move above happens. There is no good way to play this, but I would recommend having a a very high liquidation price on your short.
Currently I am long Bitcoin with a very small position.
I believe the bottom for Bitcoin is 4600-3500, so my long positions are never held for very long.
Thanks for viewing! I am collecting members for my private discord group. Please private message me to enter. I will post all my open positions and reasoning there. We also have Xue who will help predict what whales in HK are doing.
Note
This trendline has 5 successful touches so far. I am hoping we break outwards but we honestly could drop below 6k here.
Note
This is what happened for Tron. It fails to break each time and finally does, entering accumulation. I believe that will be what will be happening for Bitcoin.
If accumulation has not yet started, we have over 230 days of it.
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As mentioned in my discord, I have closed my long at 6470. I did not like the high trades during the rally, a sign of small-mid range retail buying in.Trade active
Bitcoin has just been rejected by the downtrend line, but BAS is still bullish. I honestly am unsure of what will happen, but it seems a bullish break is inevitable. Even if we do break down, I expect 4600-3500 unless 7300 is broken.
Note
I would not long here. If a short stop hunt happens, I will enter with a very tight stop loss. If we moon, I will do a manual stop as only whitelisted accounts get their stops filled first. I do not want hundred dollar slippage.
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Right now I am looking for a short.Note
Done
Note
If we don't get a pump, we will head lower.Trade closed: target reached
The target was reached for 1.53%. I personally did not short Bitcoin. This was mainly just a post bart prediction.Note
I have just posted a new Ethereum chart. Please check it out. As you know, Ethereum and Bitcoin are very correlated, so you can obviously tell my stance on Bitcoin aswell.
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