RiversAndMountains
Long

Trading BTFee™ $300MM in Tether Will Pull Us to $25,000

BITFINEX:BTCUSD   Bitcoin / Dollar
(For verbose fundamental analysis , new article posted on my Yours. org             (in my signature) with optional trade structure provided)

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.


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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Kommentar: Update #1 to Yours post. As we dip, we have an opportunity to add to our position in small increments based on the strategy in the trade thread.

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
Kommentar:

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.
Kommentar: New update to the post on Yours. Mount Finex and Bitmex being DDOSed at the same time. The plot thickens.

BTC wanes, but the pump bots have naturally been disabled. Strategy is still on, all things considered.
Kommentar: The difference in price between Mount Finex and Coinbase right now is pretty dramatic.



This is most certainly unexpected calamity.
Kommentar: New update on Yours (in my signature).



Awesome how before retail gets access back to trade that the bots rip it $600 north.

Mount Finmex. You can trust them.
Kommentar: Trade structure still active!
Kommentar: CME Futures open in just under two hours. Sunday global market time.
Kommentar: ~40 minutes away from CME Futures open.



New update to Yours post (in my signature) trading structure. Things actually went as anticipated, all chaos aside.

Breakout looks firm.
Kommentar: If you've been following this trade, you're now sitting in profit. The entry stat we used to get here was also very low risk/position size and weathered the storm well.

Shoutouts to all the readers. I really appreciate your support and hope I'm giving you adequate value!
Kommentar: Starting to think this may go up aggressively. Futures just opening now.



Squeeze off on Momentum and we're already on quite the run.

Kommentar: Arguably worst timing for an update ever lol.



Squeeze now off as whale games dump $1,000.
Kommentar: Crazy sell pressure. Don't get confused and think to yourself that this is what Wall Street does. The spot market influences the Futures market and not the other way around.



Stop at $18,400 must be respected.
Kommentar: New update to Yours trade post as price action progresses. Things are looking bearish and now one has to ask if a run above $20,000 is now out of the question.



This most recent price action may have broken the trend and produced a top.
Kommentar: New update to Yours trade structure. Instead of finding a new high culminating amidst these events, it does appear that we have topped at $20,000 instead.

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.
Kommentar: Update to trade post on Yours (in my signature). As it stands now, we still don't have adequate signals to enter long trades again.

That being said, the longer we consolidate here under $19,000 without any major dumping the more likely a bullish bounce will become.
Kommentar: Update to trade thread on Yours.org, but price has consolidated without further collapsing and it gives us an opportunity to re-enter our long trade with a tight stop.
Kommentar: New update to the thread. Still lots of fakeouts and shakeouts but it's looking like we're going to see another push.
Kommentar: Stop on this trade should be moved to $18,250 as it could be an ugly lower highs scenario.
Kommentar: Update to Yours trade thread with current situation and thoughts.
Kommentar:

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.
Kommentar:

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.
Kommentar: New update to the trade structure on Yours.

Breakout of the downtrend line. Looking solid, but will it persist?
Kommentar: Choppy price action but we consolidate here at $18,600



Once market makers have adequate position size established, Bitcoin will go up.

Next target and very key level is $21,000.
Kommentar: $1,000 sell off in about an hour after consolidating and breaking out of the trendline.



Very likely that downward momentum will continue. Next possible support will be in the $17,600 range if so.
Yours (Tipjar+Blog): https://www.yours.org/user/riversandmountains
Alt coins? Use Binance: https://www.binance.com/?ref=10196383
Save 10% fees on Bitmex and short BTC
https://www.bitmex.com/register/6COvar
Can someone please tell me where all this "new found" hashpower for BTC is coming from. Its above anything that weve ever seen before... and came out of no where.
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final target 25k then buy bcc?
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amasilma amasilma
@amasilma, bch*
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Any update for BCH now that BCT is not looking to go above 20k?
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@simpar19, Right now for Bitcoin Cash it looks like it's going to go down with the rest of the market as well. At least until something fundamentally changes.
+1 Antworten
naturex RiversAndMountains
@RiversAndMountains, You forgot Difficulty adjustment for btc? Bch shot up 500$ after the adjustment
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no sell pressure in gdax from beggining. volumes are too low in compare with last months.I dont think this big fat giant even move but still soon for judjment
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@RiversAndMountains Seems like getting off of Bitfinex and moving onto another platform ASAP might be a new priority for me. They're making it too obvious and easy that they want to make off with all the profits...
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RiversAndMountains unfathomableman
@unfathomableman, I agree. I'd recommend Binance, though they don't have margin. https://www.binance.com/?ref=10196383

Or Okex, which has margin trading on futures contracts. Okex is better than Bitmex in a lot of ways.
+1 Antworten
Who is printing all that tether? Is that legal? It is just pumping the price on pure inflation?
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