victorko

BITCOIN MAJOR DOUBLE TOP - RIPE FOR SHORTING BITCOIN AND ETHER

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BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has formed a double top and the RSI , ROC and MACD are all topping out and pointing down. The US government has expressed their distaste for Facebook's Libra and Trump is against cryptocurrencies. Ethereum is weaker than bitcoin , both ether and bitcoin are ripe for shorting. Bitcoin and ether could halve from here, a good short strategy. World stock markets are not in good shape either, NAS100 and S&P500 are ripe for a fall together with cryptocurrencies.

Footnote: Inventer of ethereum has said he is proposing to use bitcoin cash software to increase his ethereum processing speed. It looks like ether transactions can not be processed fast enough and his own team is having difficulty producing the software to improve ether's performance. The market is not impressed using bitcoin cash software, hence, the weakness in ether's price.

Comments

Great double top, i follow you for that good idea>!
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