Bitcoin breaking one resistance after the other. BUT be aware of the massive spike in the SHORTS!!
Bitcoin
Bitcoin broke today the 0.5 Fibonacci retracement resistance level and is currently just above it and the Kijun (red), ready to enter the cloud. Usually a flat Kumo (cloud) line, acts as a magnet and attracts the price towards it. It might be our case too, because of the lone flat top line, at exactly the 0.236 fib level (green).
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Out of my big list of my Moving Averages, I chose for this post only the ones that are useful at the moment: 13, 55 and the 100 & 200. The 13 day MA (green), which acted as a resistance for several days, is about to cross the 55 day MA (blue). Right now we're just above the 100 day MA (red), which also is a significant achievement for us. The channel that I previously draw , ended up being a rising wedge actually and rising wedges usually break down. A factor to look at, is that the volume spikes are getting lower.
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The Bitcoin SHORTS had a massive spike today, of no less then 50%. I find this very, very scary, as if a big whale knows that something is about to happen, which will drive the price down. Be aware guys. For those who don't know what it means: when the SHORTS rise, Bitcoin's price goes down!
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These are some of the exchanges I use:
(you can support my work by registering via these links)
- Bitfinex - my most used exchange
- Binance - most popular exchange
- Kucoin - excellent exchange, rising in popularity
- Gate - for small cap / new coins
- Huobi - margin trading
- Coinexchange - big variety of coins
ALWAYS CREATE A DIFFERENT PASSWORD FOR EACH EXCHANGE!NEVER HAVE THE SAME PASSWORD TWICE!SAVE THE PAGES TO YOUR BOOKMARKS, SO THAT YOU WON'T CLICK ON SCAM SITES! MANY GOT FOOLED AND LOST A LOT OF MONEY!Thanks for reading and safe trading!✌
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Considering Tether 100M $ transfer to BitFinex, I think that's just going to be a short squeeze
A saw the transfer, but so far no sign of any bullish/bearish movement
It takes a little while to show the affect, they aren't gonna do it over night. The last 2 times it took 4 days and 9 days for the pump to come.
A pump would be appreciated and could confirm the beginning of some bullish movement. I'm impressed that we didn't crash by now, there were a couple of times where we could have gone under water, but surprisingly the market is holding the level.
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STOPTo support your work, I also upvoted your post!