What everyone is missing is the Ethereum long positions. These started going up 7/15/18 and are almost at record levels. Longs have been accumulating Ethereum ahead of the CBOE futures launch in December. Shorts have been closing BTC short positions out due to ETH eminent rise as December approaches. But unlike ETH, BTC longs are not going up. This is because the...
BTC shorts have been dropping while longs are not going up.
I expect this last support to hold within 5% down to 410. Great long term buying opportunity.
Finally getting the lower velocity test I have been looking for. Expecting this low retest to hold within 5%. Great buying opportunity
Final warning to bears. If exchanges get overwhelmed with volume on the size of the bounce I am expecting you may not be able to cover. There is a possibility a lot of shorts will not be able to cover but 1000s of points higher once they re-open. Fair warning, do not think this is the Wallstreet and the exchanges can handle to volume htat is coming when this...
Pending a close above my 7450 velocity support we will see an end finally to the bear market. Time to buy folks!
The longer we trade along my velocity support, the more likely we are to see it hold.
I am expecting BTC to bounce off of my velocity support at 7450 today. I am also seeing ETH test it's velocity support at 443.75 area. Time to jump back into ETH and BTC with both feet....THIS IS THE BOTTOM!
I am calling the bottom is in ETH with the bounce off of long term velocity support in the last few minutes. We came within a few point of support under large volume. Next bounce target is the next velocity resistance currently at 622.
I am expecting this last support to hold with 5% limited downside.