Hello everyone,
This will be a short post and the last post I make using Bitfinex as my data source. Firstly, it is clear that this pump is due to a serious sell-off in Tether and nothing more (probably). Although, this wick hit $7,700, it did not hold even $6,700 so it is a very weak move. This candle is not bullish. I understand it is large and green, but there is nothing to be taken seriously given the Tether factor.
I am not even trying to FUD here, in fact, my position is that I have been holding bitcoin for the past 20-ish days. Not only this, but I have said on multiple occasions that the bottom very well might be in and that we could have a rally. I just don't think this will be the cause of one. I will not be trading until I see that we are out of this no trade zone. Tether collapsing is not a reason to think all is back to normal.
I am out of the game for now and you should be too. At the very least, use a smaller fraction of your trading account. Use this time to think about improving your strategies.
-YoungShkreli
This will be a short post and the last post I make using Bitfinex as my data source. Firstly, it is clear that this pump is due to a serious sell-off in Tether and nothing more (probably). Although, this wick hit $7,700, it did not hold even $6,700 so it is a very weak move. This candle is not bullish. I understand it is large and green, but there is nothing to be taken seriously given the Tether factor.
I am not even trying to FUD here, in fact, my position is that I have been holding bitcoin for the past 20-ish days. Not only this, but I have said on multiple occasions that the bottom very well might be in and that we could have a rally. I just don't think this will be the cause of one. I will not be trading until I see that we are out of this no trade zone. Tether collapsing is not a reason to think all is back to normal.
I am out of the game for now and you should be too. At the very least, use a smaller fraction of your trading account. Use this time to think about improving your strategies.
-YoungShkreli