BTC consolidation, flags, fibs + thoughts on TetherFUD and macro
Does TA even work with BTC now that institutions are starting to adopt bitcoin as a safe haven and the space continues to mature?
TA stopped working as well in the 90s once it caught in traditional markets (see Van Tharp's book "Trade your way to financial freedom" about trading failed patterns)
Do traders still expect to see -60% corrections with a supply shortage and algos buying all the btc?
Maybe. I doubt we'll see anything as severe unless there's some other global disaster or liquidity crisis like back in March 2020.
Unlikely with the new rounds of stimulus and if it does happen I'll be going long like all the other times.
Tether FUD scaring you?
Long term, it's not a problem, it's a liquidity problem from my understanding of reading the anonymous tether article up @ medium,
which really affects short term speculators and leveraged margin traders who need tight spreads to avoid slippage.
Like the UK regulating derivative products on cryptocurrency exchanges Jan 6th 2021,
and similarly the Bitmex FUD of Oct, the long term effect would be more likely to force more traders onto spot trading which would lower the risk of cascading selling and stop losses due to margin calls. There also would be an option to shift to more regulated stablecoins that were unavailable back in 2017-2018 when similar Tether FUD was around.
DYOR and trade your own thesis.
Cheers.
TA stopped working as well in the 90s once it caught in traditional markets (see Van Tharp's book "Trade your way to financial freedom" about trading failed patterns)
Do traders still expect to see -60% corrections with a supply shortage and algos buying all the btc?
Maybe. I doubt we'll see anything as severe unless there's some other global disaster or liquidity crisis like back in March 2020.
Unlikely with the new rounds of stimulus and if it does happen I'll be going long like all the other times.
Tether FUD scaring you?
Long term, it's not a problem, it's a liquidity problem from my understanding of reading the anonymous tether article up @ medium,
which really affects short term speculators and leveraged margin traders who need tight spreads to avoid slippage.
Like the UK regulating derivative products on cryptocurrency exchanges Jan 6th 2021,
and similarly the Bitmex FUD of Oct, the long term effect would be more likely to force more traders onto spot trading which would lower the risk of cascading selling and stop losses due to margin calls. There also would be an option to shift to more regulated stablecoins that were unavailable back in 2017-2018 when similar Tether FUD was around.
DYOR and trade your own thesis.
Cheers.