Some might argue that using the USDT as a proxy for the USD is not accurate. Maybe, but given the amplitude of the moves this is not a material deviation.
Others might argue that I don't get it, which is fine. As said before, I don't need followers, don't need popularity, don't intend at any point to launch such an advisory service paid in way, shape or form.
These are simply my thoughts, stated in a more structured way, so that they help ME.
Having said that, this looks ugly. Round number 3,000USD acts as resistance, the steep slope of the upmove is simply unsustainable. This is a very liquid market now, it is not the case that the lack of supply is forcing the market to bet up the prices.
The averages are left well behind and since May the volume is providing for a divergence with the advancing price. Who do I believe? Make a guess.
I am doubtful that the price will exceed 2,900USD and by the way things unfolded during the last week, the probability seems higher for a correction to take place. Should that be merely a correction or already an uglier thing, like this being the head of a head-and-shoulders formation, I do NOT know. Nevertheless, the first line of defense should the prices go down, would be in the range of 2,400-2,500USD.
Others might argue that I don't get it, which is fine. As said before, I don't need followers, don't need popularity, don't intend at any point to launch such an advisory service paid in way, shape or form.
These are simply my thoughts, stated in a more structured way, so that they help ME.
Having said that, this looks ugly. Round number 3,000USD acts as resistance, the steep slope of the upmove is simply unsustainable. This is a very liquid market now, it is not the case that the lack of supply is forcing the market to bet up the prices.
The averages are left well behind and since May the volume is providing for a divergence with the advancing price. Who do I believe? Make a guess.
I am doubtful that the price will exceed 2,900USD and by the way things unfolded during the last week, the probability seems higher for a correction to take place. Should that be merely a correction or already an uglier thing, like this being the head of a head-and-shoulders formation, I do NOT know. Nevertheless, the first line of defense should the prices go down, would be in the range of 2,400-2,500USD.