Bitcoin to retest current low /at least/

505 11
The lack of volume in bitcoin institutional derivatives, showing the lack of interest of institutional investors to bitcoin market exposure. Volume is averaging (50MA for 2h sessions) slightly over 1000 contracts, worth 5 bitcoin each.

The lack of audit of Tether and Bitfinex, a scheme that accounts for half of the BTCUSD trading volume and 1.2B outstanding usd-ious
Median trasnactions fees reached a new peak of 30 usd proving, once again just in case there was any doubt, that bitcoin currently is not ready for "production phase" (either for lack of developement or quality of the same)
The bitcoin war and the bitcoin cash threat prints a long shadow over bitcoin , and with a similar performance in the past months, there is nothing decided yet.

Entry: 14500-15000
Stop loss: 15300
Target: 10800-11900
評論: I've re-opened/I'm re-opening this position
Channel broken.
Best case scenario, market is hungry of overleveraged dipbuyers and we are retesting lows to shake them out.
Worst case scenario bull trap is over and we are heading to new lows.
交易結束:目標達成: Even the 6160 head and shoulders target was met (~60% price dip).
Trade safe and don't get lured into the "back to normal" trap.
I did not understand your last comment.
+1 回覆
Clean TA as always buddy A+ , I am in fiat since 16400 not shorting but waiting to load up under 10k ;)
However my guts tell me a huge dump could happen before the LN. After that we go to 50k minimum.
"Head and shoulders patterns can also signal that a downward trend is about to reverse into an upward trend.

Read more: Head And Shoulders Pattern
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etiennez0r etiennez0r
@etiennez0r, enjoy
+1 回覆
bagofXMR etiennez0r
@etiennez0r, thanks! and nice to see you still around :)
Thanks for sharing, I also think that we are going to start a short film before the end of the year.
Why you want to short it always? BTC is crazy & totally unlogical..:P
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