Criteria for entry are as follows:
- Bitcoin needs to hold it's own and then break the side-wards and come back to test it later as a support.
- It stays above the side-wards resistance. Price needs to stay above here because this is the only real indicator at present. Had price break this level, an entry long would be INVALID, until we retest the again.
- Price hits the side-wards resistance and uses it as a support before a long can be entered. If price fails to do this, there is NO entry here.
If either of the above conditions fail, there is NO entry scenario. This is merely a scenario that could play out had price continue to remain stable. I am eager to get in also, but only at the right time, with the right probabilities on my side :-)
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I never ask anything from my supporters, but I do have a small favour to ask of you guys... If you see comments in the comments section that are trolling/insulting to me, or any other person who's contributing to the comments section, then please Flag/Report their comments right away so we can get rid of people that aren't contributing to this site in a good way. Let's work together to make this site a better place for everybody. :-)
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I'm sure they were mostly trolls, but maybe sincere viewers saw their comments and got confused. See all quotes on different exchanges below for verification :-)
So from a technical standpoint your chart and analysis does not make sense. That is what everyone is pointing out.
Lol, I think you'll just have to deal with that one.
There's big issues with Tether right now. It's holding at 95c for the 3rd day in a row. If Tether devalues more, the Bitfinex price is going to go up again but this time the other exchanges won't be fooled into thinking its' a bullish move. If Tether goes back to $1 then the Bitfinex BTC price is going to go down to around $6400 and be in line with real USD exchanges.
I posted this elsewhere:
If anyone was not concerned/aware of the issue, I think this will help realize the seriousness. The Tether devaluations in the past were smaller and didn't last this long. So we're in for something big. Each time in the past BTC dumped afterwards and Tether didn't move as much as it's doing now. The Tether volume has also been massive this week, higher daily volume vs the whole year.
There's lots of people still posting charts on Tradingview based on Bitfinex and thinking BTC is bullish and broke out of the downtrend for a bit. It's all just Tether devaluation and people FOMO buying on other exchanges the other day thinking that BTC was breaking upwards. Bitfinex only went up because Tether price dropped to 85c and since it shows it's value in Tether and not USD. $7788 x 0.85 = $6620. That was the peak price in real USD that BTC reached on Bitfinex. Doesn't look so great a pump now but not many people seem to realize this.