Is this latest bitcoin pullback different than others???
It is normal Fibonacci retracements to see an investment come down after such an epic rise. However, with the recent addition of Bitcoin to the Wall Street futures market, things could be different this time.
Futures trading brought extra liquidity to the cryptocurrency markets but it also brought volatility!
Traders are shorting, covering shorts, getting margin squeezed and everything else that goes along with futures trading. This can cause abnormal price swings, even for Bitcoin.
Dips on Fridays
This being the last day of the week for futures trading is causing Friday dips and producing trading opportunities. We are seeing consistent price declines before the weekends. Obviously, Bitcoin still trades on the weekends despite Wall St being closed. This combination is producing Friday night to Sunday morning rallies.
I am interested to see what these next few weeks have in store. I am not bold enough to enter the futures market. Luckily, I have been profiting enormously in Bitconnect. The increased volatility has produced above average daily payouts.
I've been able to take the larger interest payouts and buy more Bitcoin for my money, at these reduced rates.
Buy Friday, sell Sunday... or NEVER!
Bitconnet is paying out daliy thanks for the tip.
Bitconnect is TOP DAWG
If you apply the fib to the daily combined with a few trend lines, Ma and vol indicators the market reflects a typical fibonacci retrace of about 61%. Possibly at the start of an uptrend.
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