Bitcoin Legacy (BTFee™) is flirting with the $20,000 mark and is eagerly awaiting either moon or doom as everyone puckers their lips bracing for correction.
Fundamentally, Bitcoin Legacy has a few key events that are behind what is driving price action.
- $300 million in Tether has Been Printed Since December 11
BTFee™ difficulty is adjusting today and will increase approximately 20% from its current all-time-high
Bitcoin Futures launches Monday morning, and one of the top 3 retail brokerages, TD Ameritrade, is also
offering the CBOE product to “qualified retail clients” on Monday.
The reality is that a perfect storm is brewing as we culminate near the opening of a new week with several key events converging at the same time.
Bitcoin trading is all guts and glory .
Read my Yours. org (in my signature) for more information and updates.
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Although the top could be in and this could be the end, we are betting on that not being the case quite yet, and we have a stop in place and a safe entry strategy to give us sufficient risk-to-reward
Right now we're looking to see if price action will rebound here or if we'll see either a fakeout dump through the wedge to the Kijun at $18,600s.
Notably, Mount Finex was being DDOSed right as the breakdown in price started to happen.
Perhaps that's some small evidence their pump and pump bots are there with their Tether.
BTC wanes, but the pump bots have naturally been disabled. Strategy is still on, all things considered.
This is most certainly unexpected calamity.
Awesome how before retail gets access back to trade that the bots rip it $600 north.
Mount Finmex. You can trust them.
New update to Yours post (in my signature) trading structure. Things actually went as anticipated, all chaos aside.
Breakout looks firm.
Shoutouts to all the readers. I really appreciate your support and hope I'm giving you adequate value!
Squeeze off on Momentum and we're already on quite the run.
Squeeze now off as whale games dump $1,000.
Stop at $18,400 must be respected.
This most recent price action may have broken the trend and produced a top.
Article updated with first points to look for a bounce. Long trades should be treated with major caution at this point. Do not expect it to suddenly reverse and go on a run to $19.5 or $20k, at least immediately.
That being said, the longer we consolidate here under $19,000 without any major dumping the more likely a bullish bounce will become.
The question here is will dip buyers be worn down by whales amidst correction, or will it break resistance and head towards a new high above $20,000 first?
New update to Yours trade post.
The longer price consolidates in this area without further downward movement, the more likely it is that Bitcoin is going to start moving up again.
I still do feel like this is a situation where the run is running out of steam and coming to an end. But, that being said, the way that could manifest is similar to when we first hit $7,400 and then blew off top at $7,900.
Breakout of the downtrend line. Looking solid, but will it persist?
Once market makers have adequate position size established, Bitcoin will go up.
Next target and very key level is $21,000.
Very likely that downward momentum will continue. Next possible support will be in the $17,600 range if so.
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