I am aware that BTC took a big dip, futures markets entered the picture, blah blah blah. There is clearly a new market for the currency revolving around futures, and trading in line with contracts. Personally I am not surprised if various futures investors are working in tandem with various BTC traders, predictably driving up prices. It would make sense to me. Since their entry, however, there has been a major correction with a subsequent sideways trade.
the new channel has a resisting ceiling in the 16k range, with a floor as shown, corrected. We are thus near the low end of the current channel.
If you study the channel formed since correction (complete entry of futures-investing parties), each day is a realy nice trade, yielding some days 25% in small day-trades.
The premise of CME/CBOE/GS futures was to 'tame' BTC, and make it into a market where professionals, with kids to feed and clients, can build predictable fortunes. That's happening.
I follow each of you on trading view and am benefitting from your analyses. I appreciate the analysts with eyes on the floor of this market. It's because of you that I remain in the day-trade, despite the relative strength of this floor. We appear to be resisting corrections below this floor, despite the scariness of it.
This indicates there is a new set of market participants, likely institutional, with their own set of priorities. I am seeing reason for less fear. After watching this correction take place, it's pure PTSD with me. But there must be a new set of R/S lines drawn to reflect the new fundamental factors in the marketplace for BTC.
DISCLAIMER
This document is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action, including without limitation as those terms are used in any applicable law or regulation
the new channel has a resisting ceiling in the 16k range, with a floor as shown, corrected. We are thus near the low end of the current channel.
If you study the channel formed since correction (complete entry of futures-investing parties), each day is a realy nice trade, yielding some days 25% in small day-trades.
The premise of CME/CBOE/GS futures was to 'tame' BTC, and make it into a market where professionals, with kids to feed and clients, can build predictable fortunes. That's happening.
I follow each of you on trading view and am benefitting from your analyses. I appreciate the analysts with eyes on the floor of this market. It's because of you that I remain in the day-trade, despite the relative strength of this floor. We appear to be resisting corrections below this floor, despite the scariness of it.
This indicates there is a new set of market participants, likely institutional, with their own set of priorities. I am seeing reason for less fear. After watching this correction take place, it's pure PTSD with me. But there must be a new set of R/S lines drawn to reflect the new fundamental factors in the marketplace for BTC.
DISCLAIMER
This document is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action, including without limitation as those terms are used in any applicable law or regulation