I'm going Short on BTC, here is why...
I know, many of us have missed the sick pump of BTC. Many think that it's like an old days where people are buying and keeping in their wallets. Todays trading is all about leverage. Only platforms like Bittmex gives all this volume. I do not believe it was the wallet Buy. This was leverage trading.
So for leverage trading you need one thing, use the unexpected moment and pump the price, once you pumped the price let sheeps to buy the top and pay for the party, once is done you dump and then buy again.
Looks like BTC has trend, but this buy went too far. It's the begining of the month and monthly candle is reaching the sky. There are two scenarios.
1. If there is something stronger behing this pump and they will keep the price around these levels all month, we'll go up.
2. It will be dump and then pump back before next monthly candle starts, to continue reaching 6000 US line.
I think it's running out of steam and while sheeps are paying for the party, price will remain -300 +300 from the existing price. Once they paid for the party, we should think about buying in.
Don't rush to buy now, because chances are quite high for the reversal.
So for leverage trading you need one thing, use the unexpected moment and pump the price, once you pumped the price let sheeps to buy the top and pay for the party, once is done you dump and then buy again.
Looks like BTC has trend, but this buy went too far. It's the begining of the month and monthly candle is reaching the sky. There are two scenarios.
1. If there is something stronger behing this pump and they will keep the price around these levels all month, we'll go up.
2. It will be dump and then pump back before next monthly candle starts, to continue reaching 6000 US line.
I think it's running out of steam and while sheeps are paying for the party, price will remain -300 +300 from the existing price. Once they paid for the party, we should think about buying in.
Don't rush to buy now, because chances are quite high for the reversal.
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