Just look at the same move they pulled of once again. Fooling most of the people again, giving all the signs of divergence and whatever more. This is pure manipulation, or whatever label you want to give it. As mentioned in a previous btc analysis, they are probably putting pressure on all the shorts that protected themselves since the Bitfinex issues from a week ago. If you have the money to do it, it's so easy in this market. Alts are still crap, so this seems to be July 2018 all over again. Meaning, Bitcoin can simply continue to rally coming week (or not), but alts will very likely stay far far behind or maybe even dump. This is also very likely a confirmation, that this rally is just temporarily, as suggested in my bitcoin analysis. Because there is no support from the rest of the market, very likely just manipulation of the shorts/longs to push the price higher. So this rally is carried by a few people and not by the whole market. As long as we stay above 5600ish, very likely to see this continue coming week.
This is just to show you that at certain times, markets follow a standard protocol/algo's.
I find that most people are commenting on the tends of the rise and drop in the crypto market and at the same time on one has really recognized another reality; tax returns in the US at least, this year have pored into the crypto market the last 4-5 months. This happened last year which sustained the slow decent last year in the market until after May which is were we saw the crypto mark start to turn down. With that said, what's the difference this year, taking place now in the crypto market that didn't take place last year? We now have some of the projects discussed last year coming to fruition. Crypterium is releasing the new prepaid debit cards that are going to offer rewards of 5%, 10%, 35%, and 50% returns on your expenses for the month to make all payments for mortgages, utilities, and any other bills you may have, thus reducing your cost of living by the equivalent percentage actually using BTC, ETH, CRPT, and LTC specifically. Coin base is doing a similar debit card and so are a few others but will be released later this year.
The result of the implementation of these uses, will drastically increase the actual use of all these crypto's to purchase anything in the market that is on the Visa, Master Card, Discovery, or American Express at over 40 million locations around the world. Isn't this what we've all been waiting for? Crypterium is releasing their debit cards this month and to my knowledge none of the others have released anything equivalent to date yet for wide adoption. There are beta testers out there but those are still in the process of the proof of concept while Cryterium is now executing the distribution of the worlds first Crypto Banking system that anyone can use with major rewards distributed on a monthly basis. All you need to do is charge the account and use it. They even plan the use of loans via crypto's and all is settled in the countries currency that you transacting in eliminating the need to buy foreign currency.
This year is the year of major life changing events. For those who have invested already, you will be the first of your kind to start prepaying for your transactions before you make them to get the rewards. This will alter our current debt to income ratios which is exactly what we have all used to leverage credit so you can get more indebted vs. out of debt. If you exercise the loans then you will be going back into the indebtedness world of thinking again but if you are leveraging correctly you can actually change that mind set and put yourself in the position of a lender vs. borrower. More and more people are starting to see the trend and once understood, this will spread like wild fire and we will all benefit from the fruits of or early adoption.
Poukitoun
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Divergence on small timeframes (1 day or less) yes but on weekly or even two week chart it showed signs of strenght. In 2012 BTC showed us how far up it could go even though we had a way overbought RSI and other indicators. Sure the tether FUD has helped BTC on Bitfinex to reach over the weekly 50MA, the BLX chart is still under though so i’m cautious. The alts not catching up with BTC does remind me of July 2018 but also when we where in the bull market. What worries me is that quite a few alts are doing new lower lows in their BTC charts, not a good sign. In my opinion, reversals are made during times of extreme mixed signals and emotions, one side a lot of FUD and very good positive news, we have all of that atm :) A lot of people will mix the 3k-5k entry levels because of that, thinking in will go lower than 3k, time will tell!
m4riovolp3
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look at this precision... | this idea
pamsugas
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its great brother
botje11
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@JuniKurniawan, Thank you :)
SHgaeppul
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thank you very much! learned a lot!
HishamMahrous
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Ever noticed the fees history on bitmex and how the trend changes. There is a clear correlation with fees amount, direction of the negative on the fees (maker or taker) and prices after a while. During the dump of bitfinnex the makers fees for long started to get higher and lots of the traders were encouraged to long to take the free money every 8 hours. I think it made the bulls stronger and pushed the bears up within days.
sukovsky
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Nice thorough analysis. Good to see someone analayze without the sensational hollywood calls some here on TV make...