amfeix

BTC:USD Market Update 17.06

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello traders and investors.

The bitcoin hash rate has been recovering nicely since the miners purge – now crossing 100mTH pushing up towards 110mTH level.
The difficulty looks healthy as-well, according the data from Bitcoin Difficulty Estimator, we should be seeing an increase anywhere between +10.14% to +18% with the next adjustment. This looks great in comparison with the last adjustment where things were nasty.
So mining fundamentals so far are looking great.
Another important thing that’s expected to affect the price is the volume .
If we take a look at the volume of the top exchanges, you can tell that the volume has been drying up throughout May and the beginning of June. This volume is not in favor of the market manipulators and exchanges, as there is no money to be made for them. Knowing how common this market Is manipulated, these big players will probably look for a way to create a surge in volume in order to boost the futures market, which is where they make most their money.A dump would not make any sense, so we could be seeing a mini surge to the upside which could get the market excited, and thus the volume will be increasing.
Technically the market is in sync with our previous analysis. On the weekly time-frame we haven’t changed much, as BTC is still struggling to break above the 10000/10500 resistance. The weekly trend - line has a nice correlation with this level, we’ve tried to break above this level for the past two months but we never succeeded.It’s worth mentioning that even though BTC tried to break above this barrier, multiple times, It almost never reacted with a huge rejection to the downside, this shows that the selling pressure from this level its starting to wear off.
As the price continues to move side-ways the chart structure remains the same, we’ve formed an equal higher low a.k.a double top formation. Long term, technically we look like there might be a dump before moving higher, as we are still in a downtrend, my bearish bias will not change unless we break above the previous higher low and completely change the trend, however, in order to trade the trend all along and capitalize on every movement, we should be taking a look at the lower time-frames as well.
At the daily time-frame as covered in the previous article, we finally anticipated the breakout of the intra-day trend-line, which resulted with a downward push to our short term target of 8800 that now’s acting as a support. Bitcoin now is moving slow and there’s no major suspicious trading volume from the big wallets, according to the wallet data from Exocharts.Short term, upon rejecting the 8800 support, we should be heading toward 10000/10100 level to re-test the trend line – this movement would also make sense fundamentally as it would be a perfect opportunity for the whales to create a much needed surge in volume .
The worlds first cryptocurrency fund built on smart contracts via the decentralised ethereum network. amfeix.com

Comments

Anybody else out there severely concerned about the inability to withdraw funds from the portal for going on a week?
+2 Reply
@jpi2457, yes I am. info is lagging badly too.
+1 Reply
XbtShark jpi2457
@jpi2457, yes everyone is.. But ceo is not taking this shit carefully... Just waiting slowly to gain more btc, not telling us anything... Who else thinks hiring one person to fix a system where he had multi biliion dollars... We're gonna find you ceo, if you don't give back our btc
+1 Reply
Waywardson_ XbtShark
@XbtShark, why hire anyone if you're going to run ?
Reply
XbtShark Waywardson_
@Waywardson_, Why not fool more foolish investors to keep sending investments, then when 20btc more deposited or more than that,,, run?
+1 Reply
Waywardson_ XbtShark
@XbtShark, I understand where youre coming from but they did say by the end of june so im just giving them the benefit of the doubt till then and their last update i thought explained things enough. I would be more worried if the person they hired was unknown but hiring Shoghi seems like a good step towards more transparency.
Reply
XbtShark Waywardson_
@Waywardson_, indeed.. But hiring an entire team of 5-10 ppl and getting entire work done in 1-2 weeks would have been better don't you think. Its not like they manage 50 btc.
+1 Reply
Waywardson_ XbtShark
@XbtShark, oh yea they definitely could’ve handled the situation alot better not going to argue that. But at the end of the day Amfeix told us from the start how long it would probably take and until they break that promise their isnt really a point in fueling peoples paranoia
Reply
jpi2457 Waywardson_
@Waywardson_, I did not and do not see where a time frame was stated. I had the impression we were just waiting for the next update to explain more. I want to trust Amfeix is being honest about things. I have only been in the account for a month, and when I chatted with customer service on the website, they were no help and acted like I being a pain asking questions. thanks for your input. I am just trying to get straight in my mind what is going on, and if this this company is trustworthy.
Reply
@jpi2457, do you mind if i pm you ?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out