androsForm
Long

A BTC "Insider" Claims a Big Run Is Coming Within 48 Hours....

BITFINEX:BTCUSD   Bitcoin / Dollar
Oh that insider was some random user on ReddIt...whose tone seems that he was most likely kidding around. But what he isn't lying or just happens to be right?

[ Here's a link to the original post on Reddit ]


That's why it's even worth talking about this schmuck.

There's no reason to believe him and anything he says.

The thread has gained some hype...likely the joint handholding of the people who started buying coins thousands of dollars over where we are are now.

BUT

I think this most recent beating the currency has seen had a lot to do with professional/institutional traders. They wanted to get in the market so they did.

They bought some up on the "Dimon Dip" so they could have enough to dump the currency lower, allowing them to load even more.

After seeing that "insider" comment, I pulled up this chart to take a look a longer time-frame view of BTC             than you're really even allowed to have now these days.


There's several things I like about it; namely the RSI/CMO divergence here...

The pricing crossing above the short-term moving average...and the convergence oF the long and short MAs approaching each other at a much faster rate than we've seen in some time.

Also, the CMO, an indicator of buying pressure indicates that buying pressure remained until this final dump.


So is it going to run up in the next two days? I don't know, but the technicals show it as being a possibility worth being entertained.
Rishesh SIngh
androsTrades.com
stocktwits.com/androsform
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