Bitcoin Analysis: Uncertainty After Tether/Bitfinex News
Bitcoin has held up relatively well since Tether/Bitfinex news broke. Price is currently above the $5,000 support, trading around $5,170.
The 21 day EMA is acting as strong support. A decisive break below (daily candle opening and closing) may indicate a larger drop is coming.
In today's analysis I discuss where price may go from here, how I'm planning to trade and so much more. I hope you find it helpful.
Video Analysis:
If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Workin
If you found this post informative, please:
Open a free account on Binance here:
https://www.binance.com/?ref=16878853
Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here:
https://brave.com/wor485
Twitter handle is @Workin2005 and Facebook is https://www.facebook.com/Workin2005
Feature Image By: Saul Gravy
What do you think about the Arbitrage play between Bitfinex and Coinbase? Any money to be made there?
Risky with everything that’s going on. From what I understand, withdrawing cash from Bitfinex has been hit and miss since the tether/bitfinex issue. If you give it a shot, I’d go small.