BTCUSD is rallying again, the signals on chart point to a rally to 6900 to 9750 by the end of November or sooner. I'm holding BTC in my crypto account, but also trading ETHUSD with leverage. Currently, I think we can take a few shorter term long trades with margin but we'd need a dip to present itself in the next few days. Most people have been interestingly bearish before this breakout, which gave me peace of mind holding longs. At the top we might see the most intense bullishness present itself in the media, public opinion, social media, everywhere...be ready to sell and sell short once we do top, cause things can get ugly, after completing a long term rally, as per Time @ Mode. We could see a bear market last for 10-20 months after 2018 starts, not a good prospect.
It was clear to me that as investors seek to benefit from the airdrops in Bitcoin, they would start buying BTC with all other alts, and cover shorts to do so. For example, the Bitcoin Gold fork, would force investors to withdraw funds from exchanges. In the case of the 2x fork, Bitfinex already claimed they will grant you a balance in the new fork once available, for all spot and margin holdings you may have in BTC. This can create a lack of liquidity and a rush to buy BTC, with all you got going into the snapshot date, and given the enormous short positioning we had, a short squeeze rally, which I think already started. It's probably accurate to say very few -like us- saw this coming.
Best of luck,
Ivan Labrie.
PS: If interested in benefitting from my insights and trade reccomendations on a real time basis, message me for access to my trading services.
Kommentar
⋅
Kommentar
⋅
And, inb4 I get flamed for calling a bear market...
Kommentar
⋅
But firt, flamed for calling a bull run...haha.
Kommentar
⋅
We bought to add on the dip, filled at 5237.4
Trade ist aktiv
⋅
Kommentar
⋅
Kommentar
⋅
Fixed the fork date in BTCUSD: This gives us room to go over 9k before the fork.
Kommentar
⋅
Altcoin death continues... Very clear rally in the ratio of BTC's market cap vs the top altcoins' market cap chart.
Trade wurde manuell geschlossen
⋅
I banked at 6420 for now.
Trade ist aktiv
⋅
Significant chance we topped...I went short, had a stop hit first but reshorted at 7000 give or take. Lost like 1% on the failed short first.
Kommentar
⋅
I managed to cover my short at minimal profit before this last push up...Now watching, it isn't clear if we will go straight up for a few more days, but sentiment spells danger. Safest bet, since I'm flat, is to wait in cash for a clear top signal. Need time to process all information, the BCH fork for example, or whatever happens with ETH, which isn't really clear yet. We entered a difficult to trade phase again. It was a walk in the park for me, since we bottomed at 3000+-
Kommentar
⋅
I think we might be seeing a peak in sentiment around here, we might get a consolidation, and then more upside after the fork. I will wait for a clear uptrend continuation setup, and a drop in sentiment to bearish levels again, ideally while price is sideways...
They flame you when your walkin' down the street, they flame you when u get somethin' ta eat....but I would not feel so alone (bada bada bada), every buddy must get flamed!
@IvanLabrie, "Well, they'll stone you when you're trying to be so good
They'll stone you just like they said they would
They'll stone you when you're trying to go home
And they'll stone you when you're there all alone
But I would not feel so all alone
Everybody must get stoned
Well, they'll stone you when you're walking on the street
They'll stone you when you're tryin' to keep your seat
They'll stone you when you're walkin' on the floor
They'll stone you when you're walkin' to the door
But I would not feel so all alone
Everybody must get stoned
They'll stone you when you're at the breakfast table
They'll stone you when you are young and able
They'll stone you when you're tryin' to make a buck
Then they'll stone you and then they'll say "good luck"
Tell ya what, I would not feel so all alone
Everybody must get stoned
Well, they’ll stone you and say that it’s the end
Then they’ll stone you and then they’ll come back again
They’ll stone you when you’re riding in your car
They’ll stone you when you’re playing your guitar
Yes, but I would not feel so all alone
Everybody must get stoned alright
Well, they’ll stone you when you walk all alone
They’ll stone you when you are walking home
They’ll stone you and then say you are brave
They’ll stone you when you are set down in your grave
But I would not feel so all alone
Everybody must get stoned" - Bob Dylan
IvanLabrie
⋅
@Trader248, Dylan, always great. Blood on the tracks is one of my all time favorite albums of all times, Blonde on blonde is a close 2nd, at least when it comes to Dylanesque material :p
malotiin
⋅
@IvanLabrie, Haters gonna .. you know what.. they're gonna be Ivanlabried.
Stay sharp my man.
IvanLabrie
⋅
@malotiin, thanks, I don't mind, I don't trade against them but against myself and the market. It's way more interesting than that...Really fascinating field.
Cheers!
sergionero
⋅
Don't you think that after the fork BTC will crash?
All bought to get segwit2x coin, and after it happened and BTC is high there will be strong incentive to protect profits.
Add here post-hardfork uncertanity what chain will survive, long blocktimes.
I see no cause for BTC rally after fork.
Maybe I do not take something into account?
IvanLabrie
⋅
@sergionero, yes, I think it will top after this last rally...or already topped. That's why I'm in cash and will trade the last move with reduced exposure.
I think the market won't please the majority or common sense, and there's a chance it rallies as a short squeeze if we get a liquidity crunch...There's a lot of leveraged players, who might want to hedge their 'free coins' position...
sergionero
⋅
@IvanLabrie,Good point, thanks for mentioning. I also was going cover my BTC position on futures before the fork, but now I see danger in such position.
If there will be many shorts accumulated before fork then short squeese is very possible scenario.
IvanLabrie
⋅
@sergionero, best bet is to be flat...and watch imho. The 'free coins' from the fork have become like 'common sense' and have 'no risk' for people, this is lunacy.
Please keep up the great work!